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Required Minimum Distributions Uniform Lifetime Table


UPDATE, Nov. 9, 2020: This RMD table is in effect through tax year 2021. There were no RMDs in 2020. Effective Jan. 1, 2022, a later RMD trigger age of 72 takes effect. And for tax year 2022, there will be new life expectancy tables, including the most commonly used Uniform Lifetime Table, created in November 2020 to reflect our actuarially longer life spans. 

Older retirement account owners know that, in some cases, they can't leave their money untouched forever. When your retirement savings are in tax-deferred accounts, the Internal Revenue Service eventually demands that you take some money out so it can get its cut of your cash.

Piggy-bank-hammer-300These IRS mandated withdrawals, which are triggered when you reach age 70½, are known as required minimum distributions, or RMDs.

That year, you have to start taking out at least a portion of affected accounts, such as traditional IRAs or 401(k) workplace plans.

The exact distribution amount is based on your age and therefore changes from year to year. It's determined by dividing your affected accounts' year-end values by an age-based distribution period.

So what are those periods? The IRS has created three tables to help you figure out your annual RMD.

The most commonly used table is Uniform Lifetime Table. That's it reproduced below.

Uniform Lifetime Table
Required Minimum Distributions (RMDs)

for Certain Tax-Deferred Retirement Accounts
Age of Retiree Distribution Period (in years)   Age of Retiree Distribution Period (in years)
70 27.4   93 9.6
71 26.5   94 9.1
72 25.6   95 8.6
73 24.7   96 8.1
74 23.8   97 7.6
75 22.9   98 7.1
76 22.0   99 6.7
77 21.2   100 6.3
78 20.3   101 5.9
79 19.5   102 5.5
80 18.7   103 5.2
81 17.9   104 4.9
82 17.1   105 4.5
83 16.3   106 4.2
84 15.5   107 3.9
85 14.8   108 3.7
86 14.1   109 3.4
87 13.4   110 3.1
88 12.7   111 2.9
89 12.0   112 2.6
90 11.4   113 2.4
91 10.8   114 2.1
92 10.2   115 or older 1.9

 

Using the table above, 75-year-old Jane Retiree who has a traditional IRA worth $100,000 at the end of last year would have to take at least $4,367 — that's the result of her $100,000 IRA value divided by 22.9 — from her account.

If Jane doesn't take her RMD, she'll face a 50 percent tax penalty on the amount she should have withdrawn.

You can read more about the penalty and other RMD issues in the ol' blog's post 5 FAQs about RMDs.

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Today's Tax Tip

  • Don't be a tax fool — Don't be a tax fool on April 1 or any day of the year by not falling for any of these 10 tax myths. (April 1, 2023)

  • Tax Tip; click pencil for all tax tip links

  • The 2023 Tax Tips offer ways to file your annual return, along with post-filing advice, important tax news and, of course, ways to cut your current tax year bill. You'll find the monthly assemblages on their own respective pages: January, February, March, April, May, June, July, August, September, October, November and December. Remember, tax tasks and tips don't stop after you file your annual return!

All About Kay

  • OK, some about Kay
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    Kay Bell — Native Texan
    (the blog title totally makes sense now, right?). Professional journalist. Tax geek.

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Tick ... Tick ... Tick

  • Tax Year 2023 Countdown!

    Happy New Tax Year! Are you ready to file your 2022 tax return? Me neither. But at least this year we're getting some extra time to file and pay any tax we owe. Even better, it's not COVID-19 pandemic related. Tax Day 2023 is Tuesday, April 18. This later date is because April 15, 2023, is on Saturday, and the next business day, Monday, April 17, is Emancipation Day.
    When this Washington, D.C., holiday falls on the day our federal taxes are due, it bumps Tax Day nationwide to the next business day. So this year, we have until Tuesday, April 18, to finish our federal forms and, if we find we owe, come up with the money for Uncle Sam. The states that follow the federal tax calendar, which is most of them, also tend to abide by this date change.

    The countdown clock below should help us from missing out on making important tax-saving moves the rest of this year. Plus, the Tax Moves below the counter will list some timely tasks to take care this first month of 2023, and each of the remaining 11 when they arrive. They'll speed by quickly when you're having tax fun!
    Note: I'm in the Central Time Zone, so adjust accordingly for where you live.


Time for Tax Tasks


  • monthly tax moves


  • No April 🃏 Fooling!
    Tax Day is fast approaching,
    and millions of us have put off dealing with our 1040 forms. So we definitely are not in the mood for tax pranks or jokey misinformation.

    April Fool's Day drawing


    That's why we're going to get down to just the tax facts in the following tax tasks to take care of over the next 30 days.

    April 1: The first day of April definitely is not a day to fool around if you must make a required minimum distribution (RMD). This year's deadline is for folks who turned 72 in 2022 and decided to delay that first RMD. Retirement law changes enacted late last year upped the RMD age to 73, despite the wrong notices that some septuagenarians got earlier this year.

    April 3: You made it through April 1 unscathed, but tax misconceptions persist year-round. Don't fall for any of these 10 tax myths as you work on finishing your return. Also make sure you don't make any common filing mistakes, or overlook any tax breaks.

    April 10: Do you work as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation? I hope you got lots of financial thanks for doing your job well, but remember that those tips are taxable income.

    restaurant check tip iStock
    Whether you're dining in or, still COVID leery and getting food delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.

    And you, as the server or delivery person, must account for those tips. If you got at least $20 in gratuities in March, you must report the amount by today by using Form 4070 to let your employer the total of the tips you took in last month.

    April 11: Tax Day is just a week away. You really tried to do your taxes yourself, but you've realized you need help. It's probably too late to find a tax professional who'll do your taxes by April 18. Sorry. They tend to book up earlier in the tax year. But there's still help available, especially if you're older or don't make a ton of money. Check into Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) programs in your area. These IRS-trained volunteers are happy to help eligible taxpayers fill out and file returns at no- or low-cost.

    And, of course, there's Free File, the no-cost online preparation and electronic filing web page for eligible taxpayers created by the IRS' partnership with the Free File Alliance. This year, seven tax software companies are participating.

    IRS Free File; click image for details

    The Free File income threshold this year remains at adjusted gross income (AGI) of $73,000 or less, regardless of your filing status.

    April 18: Tax Day 2023 is here, on schedule, sort of, a few days later than usual for the third consecutive year.

    via GIPHY

    If you discover that you just can't complete all the necessary tax paperwork today, make sure you file Form 4868 to get an automatic six-month extension. Also be sure to pay any tax you owe. The extension only gets your more time file your forms, not extra time to pay your tax bill.

    Remember, too, that April 18 also is the deadline for several other tax tasks. They include:

    Making your first 2023 tax year estimated tax payment. There's no extension allowed here.

    Contributing to contributing to an IRA. Putting money into a traditional IRA by today also could give you an immediate above-the-line tax deduction on your current return.

    You also can contribute to a Roth IRA and have it count toward the prior tax year. While a Roth isn't deductible, when you max out your annual contribution amounts you'll have a bigger retirement nest egg. Plus, your contributions to either retirement account could help you qualify for the Saver's Credit.

    And if you didn't file a 2019 tax return back in 2020 and were due a refund three years ago, file that old 1040 by today or kiss your unclaimed refund money goodbye.

    April 21: Whew! Now that filing is done (except for tax procrastinators on extension) and you've had a few days to get settled, it's time to take care of your tax records. You need to hang onto some filing paperwork just in case the IRS has follow-up questions.

    April 24: If you got or are expecting a big refund or ended up owing Uncle Sam a lot when you filed your return, now's the time for a paycheck checkup to see if you should adjust your withholding.

    April 28-30: Congratulations! We made it through the biggest month of tax season. This calls for a tax-free weekend. No fooling! Enjoy!

    Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS' online calendar page and view the full year's important business and individual tax dates in IRS Pub. 509.

State Tax Help

  • Don't forget your state taxes!
    Forty-three states and D.C. collect personal income taxes. But even if you live in of the seven states without an income levy, you still face other state (and local) taxes.

    State Tax Departments provides links to your state's Web page. The companion page, Tax Tidbits, is the compilation of blurbs about each state's tax laws. And for more state tax news, check out all our state tax bloggings.

Tax Forms

  • Tax Forms
    Thanks to our increased use of tax preparers and computer software, many of us don't see our tax forms until we sign and file them. But knowing what's on these documents, either in paper or digital form, and why the IRS wants it is key to understanding our tax system. And knowledge definitely is power, especially when it comes to tax savings. Find this valuable information in the ol' blog's special Tax Forms 2023 page.

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  • Tax Reading Room

    You also might enjoy these other tax tips from some of my tax-writing colleagues:

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I gotta tell ya ...

  • AKA Disclaimer:
    I am a professional journalist who has been covering tax issues since 1999.
    I am not a professional tax preparer.
    The content on Don't Mess With Taxes is my personal opinion based on my study and understanding of tax laws, policies and regulations. It is provided for your private, noncommercial, educational and informational purposes only. It is not a recommendation of any specific tax action(s) you should or should not take. Similarly, mentions of products or services are not endorsements. In other words, my ramblings on the ol' blog are free advice and you know what they say about getting what you pay for. That's why when it comes to filing your taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent or other qualified tax preparer who is familiar with your individual tax circumstances.

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COVID-19 & Taxes

  • COVID-19
    Coronavirus has wreaked havoc
    on the 2020 and 2021 tax seasons.
    These three Coronavirus (COVID-19) and Taxes pages have details:
    March-July 2020,
    August-December 2020,
    January-December 2021, and
    January-December 2022
    You can find medical coronavirus resource links in the next section.

COVID-19 Resources

  • COVID-19
    Need help finding a coronavirus vaccine in the United States?
    Call 1-800-232-0233
    or TTY 1-888-720-7489.
    More information and resources at:
    CDC Vaccines
    CDC Booster Shots
    HHS Combat COVID
    USA.Gov COVID Info

April 2023

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Tell it to the Hill

  • DMWT Politics Posts
  • While it's easy to rail at the IRS, for the most part we can thank — or blame — our tax laws on Congress and the White House. So if you have an issue with tax legislation or want a tax bill passed, you need to let your federal legislators and the White House occupant know of your concerns. You can find out who in Washington, D.C., to contact (and how), as well as get information on your local lawmakers for matters, tax or otherwise, closer to home, at USA Gov.

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