Multiple IRA beneficiaries may use life expectancies to determine distributions

The Internal Revenue Service (IRS) issued two rulings on May 12, 1999, containing identical facts that conclude that multiple beneficiaries of a single individual retirement account (IRA) may use their life expectancies to determine the payout period under Section 401(a)(9) of the Internal Revenue Code of 1986, as amended, based on their shares of a single IRA account. Read More...