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Annual/Monthly Distribution Gotcha?

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ByBruce

L1: Annual/Monthly Distribution Gotcha?Itis pretty obvious with the size of your IRA you don”t wantyour SEPP busted because of the 10%/Interest/Penalties.
Question: Does the IRS judge this on a yearly boundary or monthly? If it is yearly at least you only have to go an make sure things are trued up at the end of the year.
(It just seems to me that we have gotten way too far away from what the Founding Fathers intended when they established the govt to run the affairs of state and then go back home. Its almost like our govt is setting traps to snare the unwary and unwashed … rather than create an environment where good people can be productive and pursue happiness. (So much for my idealism…)
Bruce2008-01-21 17:59, By: Bruce, IP: [68.52.84.241]

L2: Annual/Monthly Distribution Gotcha?ANNUAL ONLY. The IRS doesn”t care if you take distributions annually, semi-annually, quarterly, monthly, semi-monthly, bi-weekly, weekly, or even daily. The only caveat is that the annual TOTAL must be the same each year, except for the first and last year.
Why do you think they are looking to catch you in some error. Quite the contrary, they are giving you every opportunity to get it right by making any corrections in December.
They are not always the “INFERNAL” REVENUE SERVICE !!!!2008-01-21 18:23, By: dlzallestaxes, IP: [151.197.219.130]

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