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Retirees catch a break

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in Small Business Tax

Congress recently passed the Worker, Retiree and Employer Recovery Act of 2008. Among other provisions, this new law suspends the rule for required minimum distributions (RMDs) from IRAs and qualified retirement plans in 2009.

The IRS may still provide some relief for RMDs for 2008, but it’s not certain. We will have more to report soon.

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