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Millions of elderly retirees may face IRS fines due to incorrect timing of retirement account withdrawals, Vanguard warns.
Vanguard warns that millions of elderly retirees are incorrectly managing their retirement account withdrawals, potentially triggering avoidable tax penalties.
The firm says many are failing to properly time required minimum distributions (RMDs) from traditional IRAs and 401(k)s, leading to IRS fines.
Experts advise retirees to consult financial advisors to ensure compliance and minimize tax burdens.
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Vanguard advierte que millones de jubilados de edad avanzada podrían enfrentar multas del IRS debido al momento incorrecto de los retiros de la cuenta de jubilación.