Retired Taxpayers Over 59½ Years of Age at the End

question 166

True/False

Retired taxpayers over 59½ years of age at the end of the year must receive minimum distributions from defined contribution plans or they are subject to a penalty.

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Definitions:

Overregularization

The linguistic error, especially common in young children, where irregular grammatical forms are treated as if they were regular.

Environmental Influences

External factors that affect growth, development, behavior, and well-being, including social, cultural, and physical environments.

Intelligence Quotient

A measure of a person's cognitive abilities in relation to their age group, often used to assess intellectual potential.