Minimum Withdrawals

Another provision would repeal a tax rule that requires retirees to take minimum withdrawals from individual retirement accounts with a balance of less than $50,000 after age 70½.

Obama also wants to revise an information-reporting requirement included in last year's health-care law that has drawn opposition from lawmakers of both parties and from small businesses. The law requires businesses to report payments to corporations totaling $600 for services and goods. Obama would still require the reports on Form 1099 for purchases of services, although not of goods.


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