On July 17, 2023, the IRS issued Notice 2023-54 (“the Notice”) which updated guidance for most non-spouse beneficiaries that inherited an IRA after December 31, 2022, and provided special rollover relief for taxpayers that mistakenly took an IRA distribution at age 72. The Notice was in response largely to the confusion created by the IRS over law changes contained within the SECURE Act 2.0 legislation. The updated guidance is..
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Welcome to “The Week Ahead” where we take a moment to provide our thoughts on what we can expect in markets and the economy during the upcoming week.
Last week, markets posted broadly negative performances due to concerns over the potential effects of a U.S. credit rating downgrade by Fitch (to AA+ from AAA). The downgrade was simply a global broadcast of the U.S. fiscal situation - no surprise, it is not good, but in our opinion, it is still..
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The U.S. economy has been remarkably resilient in the face of tightening Fed policy. This was supposed to be the year of a likely recession. That has yet to happen; in fact, global equities continued to rally in the second quarter of the year, led again by surging U.S. mega-cap growth stocks. The S&P 500 index gained 6.6% in June and 8.7% in the second quarter driving its year-to-date return to 16.9%. Developed international..
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