Originally Posted by
Hank Kingsley
Another big change, your kids have 10 years to "drain" their inherited IRA. Huge tax consequences for them. Thanks Congress.
Yup, more taxes on middle America. This provision is estimated to generate $15B in revenue. That'll pay for about 750 miles of wall... isn't that what "we wanted"? Luckily the top 400 Americans are paying a lower tax rate than the middle class for the first time in our nation's history.
To clarify, minor kids' 10-year clock doesn't start running until they hit 18, spouses aren't affected, and most sibling benefactors aren't affected either.