A Taxpayer Must Begin Withdrawals from Any Type of Retirement

question 76

True/False

A taxpayer must begin withdrawals from any type of retirement plan except a Roth IRA) no later than April 1 of the tax year after the taxpayer reaches age 701/2 or, if later, the year they retire.

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Definitions:

Deindividuation Theory

A psychological theory suggesting individuals in groups may lose self-awareness and feel less responsible for their actions, often leading to norms being disregarded.

Irrationality

The quality of acting or deciding based on emotions, flawed reasoning, or nonsensical ideas, rather than logic or rational thought.

Group Behavior

pertains to the ways in which individuals act, interact, and influence each other within a group setting.

Trick-or-Treaters

Children who dress in costumes and go from house to house on Halloween asking for treats, such as candy, with the phrase "Trick or Treat."