Ahead of Toyota’s general shareholder meeting June 18, two prominent proxy groups recommend voting against the board reappointment of Akio Toyoda, who drove his family’s namesake carmaker to new heights and record profits over a 14-year run at the helm.
A memo from NADA to its members alerts Hyundai dealers that certain amendments to the dealer sales and service agreement may break state franchise laws.
In a previous column, I pointed out that in the wake of rule changes under the SECURE Act of 2019 and the SECURE 2.0 Act of 2022, there are updated rules regarding missed required minimum distributions (RMDs) associated with IRA accounts.
Fortunately, the penalties associated with missed RMDs have been reduced. In 2023, they were reduced from 50% to 25%. The new regulations also specified that if the missed RMD was reported in a “timely” manner, the penalty would be reduced to 10%. A timely manner was defined as when a beneficiary inherited an IRA in 2023 or later, the penalty would only be 10% of the missed RMD if the beneficiary filed IRS Form 5329 by the end of the second calendar year following the year for which the RMD was missed.
Procedures have been finalized so that individuals who have missed RMDs for acceptable reasons can apply for a complete waiver of penalties. In a recent newsletter, IRA expert Ed Slott has documented these procedures, which I’ll discuss below.
In order to file for a waiver, you have to first take the missing distributions. Then, you should file a separate Form 5329 for each year you missed an RMD. You can enclose all the separate Form 5329s in one filing. The justification for filing a waiver can be the same for each year you file a 5329.
The Toyota chairman opened an R&D Center in Japan by showing a car that he crashed as a symbol of the philosophy he wants employees to use.
David W. Wright was hired as safety director at T&T Construction Management Group Inc., Casselberry.
Todd Watson was promoted to Florida division manager at Robins & Morton and will be working in the company’s Orlando office.
Kim Dove was appointed executive director of facilities management at Seminole State College of Florida.
Daniel N. May has joined ShuffieldLowman as an associate in the firm’s Orlando office.
Submit professional appointments, management-level promotions and significant awards for individuals, along with photos as .jpg attachments, to peopleonmove@orlandosentinel.com.