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At Age 73, The IRS Starts A Secret Clock β€” It Costs Couples $40,000
At age 73, the IRS starts a secret clock β€” and they're not required to tell you. It's called the Required Minimum Distribution. Your 401(k) grew tax-deferred for forty years. Now Uncle Sam wants his cut. Miss the deadline by one day, and the IRS keeps 25% of what you forgot to withdraw. The average couple loses $40,000 in unnecessary taxes ...
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