Retired Taxpayers Over 59½ Years of Age at the End

question 114

True/False

Retired taxpayers over 59½ years of age at the end of the year must receiverequired minimum distributions from defined contribution plans or they are subject to a penalty, unless the distribution requirement is waived under the CARES Act.

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Definitions:

Expressive Aphasia

A neurological disorder characterized by difficulty in expressing oneself through speech or writing, while understanding can remain relatively intact.

Stroke

A medical condition resulting from the interruption of blood supply to a part of the brain, leading to sudden loss of brain function and possible long-term disability.

Alternative Methods

Refers to non-traditional practices or techniques used in place of conventional approaches for various purposes, including medical treatment.

Incongruent Statements

Expressions or declarations that do not align or agree with each other, leading to confusion or misunderstanding.