Can AI tools like Perplexity help research when the IRS changed the RMD life expectancy tables for calculating missed required minimum distributions?
One member described using Perplexity for a client prospect who had inherited an IRA and failed to take RMDs for about 15 years. They asked Perplexity to find the applicable rules and provide source links, and it returned the relevant IRS publications along with the year the life expectancy tables changed, which was needed to correctly calculate the RMD amounts owed. The member found this very helpful for quickly locating the specific table change. When another member asked what year the tables actually changed, the answer wasn't recalled from memory during the call, though it was noted the RMD penalty calculation was also changed a couple of years ago.
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