The coronavirus pandemic has dominated the investment landscape the past two years. As the U.S. economy rebounded and corporate profits recovered, stock prices surged while interest rates stayed very low. Entering 2022, the focus shifted to the potential threat of inflation and how Federal Reserve policy could hamper growth. Then came Russia’s unconscionable behavior in Ukraine.
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For the first time since 2002, the IRS has updated life expectancy tables which determine Required Minimum Distributions (RMDs) for individuals who are subject to mandatory annual withdrawals from retirement accounts.
With the passage of the American Rescue Plan now in the rear-view mirror, attention is shifting to how the
new administration and Congress will attempt to move forward with plans for comprehensive tax reform.