Road status change will have little immediate impact

BY BRIAN WILSON

NEWS EDITOR

A section of Hwy 13 got a new designation from the state.

According to highway commissioner Ben Stanfley, the state of Wisconsin updated Hwy 13’s designation from a minor collector to a major collector road between CTH O and CTH C.

According to Stanfley the designation impacts the design of things such as lane widths and size of road shoulders and is the function of the amount of traffic and service population. He described it as an oversight of the state that it was listed on maps as a minor collector, when it should have been a major collector all along.

The change may impact future road projects in that corridor, but Stanfley said he felt the road already met the standards for the major collector functional classifi cation.

The next time work is scheduled for Hwy 13 in Medford is in 2024. In 2022, work is planned for CTH O from Hwy 13 to northbound Gibson Dr. Additional planning for those projects will take place as they get closer.

From the Attorney’s Desk

by Jason Krautkramer, J.D.

Eckert & Krautkramer, LLC

325 N. 1st Ave., Suite 1 Wausau, WI 54401 715-842-0907 jason@eckertlawllc.com

80156

If you neglected to take a required minimum distribution (RMD) from a retirement account, you could face a tax penalty of 50% of the amount of the distribution you did not take. Fortunately, the IRS can waive penalties if the proper remedial action is taken.

You must show that your error was “reasonable” and that you are taking “reasonable steps” to correct it. You should take the distribution as soon as possible to correct the error. File IRS Form 5329, “Additional Taxes on Qualified Plans (Including IRAs) and Other Tax Favored Accounts,” for each year for which you failed to take the RMD. Along with your Form 5329 and documentation showing that you have now taken the required distribution, send a letter to the IRS explaining why you did not take your RMD on time.

Call our office today to set up an appointment to discuss these or any other estate planning concerns.

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