Description

Did you receive a windfall late in the year and then get penalized for not paying estimated taxes on it earlier? It doesn't seem fair, but the IRS might levy a penalty for that. There is a way to fix it - and similarly for RMDs you might take out in December too.

That's the main focus on today's Retirement Headline - and it fits in nicely with our Listener Question as well.

Resources:

• Article by Jeff Levine on the Nerd's Eye View Blog: Using Retirement Accounts To Reduce Estimated Tax Penalties Via Tax Withholding From (Required Minimum) Distributions
• IRS form 2210: Underpayment of Estimated Tax by Individuals, Estates, and Trusts

Connect with Benjamin Brandt:

• Subscribe to the This Week in Retirement: http://thisweekinretirement.com
• Get the Retire-Ready Toolkit: http://retirementstartstodayradio.com
• Work with Benjamin: https://retirementstartstoday.com/start

Get the book!
Retirement Starts Today: Your Non-financial Guide to an Even Better Retirement

Follow Retirement Starts Today in:
Apple Podcasts, Spotify, Overcast, Pocket Casts, Amazon Music, or iHeart