the requirement (RMD) has been waived by the IRS for 2009-thus those of us over 70 yrs do not have to take withdrawals from our IRA's which would have been taxed.
i guess thats good news then! :) i lived out of country most of my life, no ira for me. just a little nestegg...:) i did spend all day! ugh getting all the papers ready for tax atty on friday as extensions are filed. whew! divvi
swarfmaker-- don't know about the IRA stuff, but he can still get Guardianship with conservatorship. Then he can take care of her financial business as well as medical--everything. A financial advisor can probably help resolve the problem issue.
Our taxes were being figured while we were gone. Got home and 'lo and behold' here is another tax form, 1099's on oour joint account. I called our tax person, she is filing an extension and will redo our taxes in May. There will be no penalty--we get a nice refund. Yeah!!
Yes, the tax man can be that heartless - unless you are one of the tax evaders that are friends of our president. I did books for a small business woman. While doing this found that her former bookkeeper had embezzled from her. Most of the money stolen, over $120,000, was checks that supposedly paid payroll taxes. When she found out she took a second mortgage on her home to pay the principal (that is all she could get). The DA and tax advocate thought for sure once the lady was prosecuted they would 'forgive' the penalty and interest. Guess what -- no such luck. They claim they can't do that. But we all know if you are the right people they will.