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Why is "1/2" used in significant IRA ages like 59 1/2 and 70 1/2?
Why did IRS choose to confuse taxpayers with this odd, first-year calculation age instead of using "round" birth dates like age 59 and age 70?
I don't care who enacted the law. The question is, why add the "1/2" to the age???
3 Answers
- Anonymous1 decade agoFavorite Answer
I am not certain it was the IRS. It sounds more like something congress would have done when they wrote the legislation. You do know how congress writes legislation, don't you? I sure don't.
- Anonymous1 decade ago
IRS did not; Congress did.
