The IRS reminded account holders, and their beneficiaries, with employer-sponsored retirement plans and IRAs, of the upcoming Dec. 31 deadline — or face penalties.

If you are 73-years-old or older and haven’t taken a Required Minimum Distribution from your tax-deferred retirement account, the IRS says most people need

"Very simply, it adds to the tax burden of those who inherit an IRA or a qualified workplace retirement savings plan," said Barbara O’Neill, author and certified financial plann