web analytics

IRS Delays New Guidelines for Inherited IRAs

The Internal Revenue Service said Friday it would delay enforcement of new rules for taking required withdrawals from some inherited retirement accounts until 2023, after taxpayers complained the changes were confusing. 

The relief applies to taxpayers who inherited retirement accounts in 2020 or 2021 who the IRS said had to take annual withdrawals right away instead of waiting until the end of a 10-year period to deplete their accounts.