The Feds Must Stop Hounding the ElderlyThe Feds Must Stop Hounding the Elderly
Dear federal lawmakers: It's time to change the law so that individual retirement account custodians, not the elderly, are responsible for withdrawing the required minimum distributions (RMDs) from their IRA accounts. Let's stop expecting the elderly, who too often suffer from ever-diminishing capacity, to initiate RMDs, then, if they forget, hit them with 50 percent penalties plus interest. Fellow
Michael J. Jones
Dear federal lawmakers: It's time to change the law so that individual retirement account custodians, not the elderly, are responsible for withdrawing the required minimum distributions (RMDs) from their IRA accounts. Let's stop expecting the elderly, who too often suffer from ever-diminishing capacity, to initiate RMDs, then, if they forget, hit them with 50 percent penalties plus interest.
Fellow practitioners: Please take note of what's going on and join me in demanding that it be stopped.
IRA custodians: Instead of helping persecute the elderly, why not gain market share by offering them automatic RMDs?
Right now, the Treasury Department, Internal Revenue Service and IRA custodians are unwittingly acting as co-conspirato...
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