Are you someone that inherited an IRA post January 1, 2020, and are a beneficiary other than an Eligible Designated Beneficiary? If so, you have probably heard that you had 10 years to withdraw funds from that inherited IRA under the new “10-Year Rule,” which originated in the SECURE Act of December 2019. You may have expected that IRA investment could continue to be completely deferred from taxation until you either needed some or all of the funds; or until the 10th year following the death of the original account holder, when you would have to withdraw any remaining IRA balances. Well, if that was your expectation, you had plenty of company including most tax advisors and students of the SECURE Act with one exception: The IRS.

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