For more information on tax-exempt interest, see the instructions for your tax return.

Individuals Businesses Self-Employed POPULAR Earned Income Credit (EITC) Child Tax Credit Standard Deduction Health Coverage Retirement Savings.

Certain taxpayers affected by federally declared disasters declared after December 20, 2019, may be eligible for an automatic 60-day extension for filing, paying their taxes, and other administrative deadlines.

Recent legislation contains special rules that provide for tax-favored withdrawals from and repayments to certain retirement plans (including IRAs) for taxpayers who suffered economic losses as a result of certain major disasters that occurred in 2018, 2019, and early 2020.

See Disaster-Related Relief, later, for information on these special rules.

Also see the Instructions for Form 8915-C, Qualified 2018 Disaster Retirement Plan Distributions and Repayments, and the Instructions for Form 8915-D, Qualified 2019 Disaster Retirement Plan Distributions and Repayments, for more information on these special rules.

For distributions required to be made after December 31, 2019, the age for beginning mandatory distributions is changed to age 72 for IRA owners reaching age 70 after December 31, 2019.

The required beginning date for IRA owners who havent reached age 70 12 by the end of 2019 is April 1st of the year following the year of the owners 72nd birthday.

There are new required minimum distribution rules for designated beneficiaries upon the death of the IRA owner after December 31, 2019.

All distributions must be made by the end of the 10th year after death, except for distributions made to certain eligible designated beneficiaries.

For the latest information about developments related to Pub.

B, such as legislation enacted after it was published, go to IRS.govPub590b.

Special rules provide for tax-favored withdrawals and repayments from certain retirement plans (including IRAs) for taxpayers who suffered economic losses as a result of Hurricane Harvey or Tropical Storm Harvey, Hurricane Irma, Hurricane Maria, or the 2017 California wildfires.

See Disaster-Related Relief, for information on these special rules.

Also see Pub. 976, Disaster Relief, and the Instructions for Form 8915-B, Qualified 2017 Disaster Retirement Plan Distributions and Repayments, for more information on these rules.Disaster tax relief is also available for taxpayers who suffered economic losses as a result of disasters declared by the President under section 401 of the Robert T.

Stafford Disaster Relief and Emergency Assistance Act during calendar year 2016.

See Pub. 976 and the Instructions for Form 8915-A, Qualified 2016 Disaster Retirement Plan Distributions and Repayments, for more information on these provisions.

They are covered in Pub.

Retirement Plans for Small Business.

If the separate account or annuity otherwise meets the requirements of an IRA, it will be subject only to IRA rules.

An employees account can be treated as a traditional IRA or a Roth IRA.For this purpose, a qualified employer plan includes.

If an RMD is required from your IRA, the trustee, custodian, or issuer that held the IRA at the end of the preceding year must either report the amount of the RMD to you, or offer to calculate it for you.

The report or offer must include the date by which the amount must be distributed.

It can be provided with the year-end fair market value statement that you normally get each year.

No report is required for section 403(b) contracts (generally tax-sheltered annuities) or for IRAs of owners who have died.

Tax on your traditional IRA is generally deferred until you take a distribution.

Dont report this interest on your return as tax-exempt interest.

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