IRS Publication 590

IRS Publication 590 is an informational document published by the Internal Revenue Service (IRS) that provides information on the taxation of retirement plans. The publication covers a wide range of topics, including the different types of retirement plans, the rules for contributing to and withdrawing from plans, and the tax implications of various retirement plan distributions.

Publication 590 is an important resource for anyone who is considering investing in a retirement plan or who is already participating in a plan. The publication provides valuable information that can help taxpayers make informed decisions about their retirement savings.

The following is a brief overview of some of the topics covered in Publication 590:

• The different types of retirement plans, including 401(k) plans, IRAs, and SIMPLE plans
• The rules for contributing to and withdrawing from retirement plans
• The tax implications of various retirement plan distributions
• How to calculate the required minimum distributions (RMDs) from retirement plans
• The different types of Roth IRAs and how they work
• How to convert a traditional IRA to a Roth IRA
• The tax advantages of contributing to a retirement plan
• The importance of saving for retirement

Publication 590 is available online at the IRS website. The publication can also be ordered by mail from the IRS.