The Dirty Dozen
IRS First Friday Hot Issues Summary - April Edition

TXCPA Committee Still Concerned with Proposed Regs on RMDs of Inherited IRAs

Today, the TXCPA Federal Tax Policy Committee issued its second letter to Treasury and the IRS addressing proposed regulations REG-105954-20 (February 2022) on the tax treatment of required minimum distributions (RMDs) of inherited IRAs. Although IRS Notice 2022-53 issued last October provided some transition relief, the committee recommends more action. It is concerned the position in the proposed regs is contrary to statutory language related to the changes made to RMDs in the Setting Every Community Up for Retirement Enhancement (SECURE) Act. If the proposed regs are not reconsidered, the committee seeks more permanent guidance and relief to help taxpayers come into compliance with the new IRS requirements.

See letter.


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