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If you are the beneficiary of an IRA, taxes must eventually be paid on the proceeds of the IRA. However, depending on your beneficiary status, there can be a lot of flexibility as to when the taxes must be paid.axes Must Be Paid Eventually. An IRA is a tax-deferred account, and Internal Revenue Service (IRS) rules force taxes to be paid on the account eventually. If you choose to withdraw any money from the inherited IRA, that money will be taxable for the year in which you made the withdrawal.
Situation 1: Under the terms of the IRA beneficiary designation pursuant to the IRA governing instrument, Decedentâs spouse, Spouse, is designated as the sole beneficiary of the IRA after Decedentâs death. A, the child of Decedent and Spouse, is designated as the beneficiary in the event Spouse predeceases Decedent.Three months after Decedentâs death, in accordance with Â§ 1.401(a)(9)-5, A-4, of the Income Tax Regulations, the IRA custodian pays Spouse $100x, the required minimum distribution for 2004.ituation 1: Under the terms of the IRA beneficiary designation pursuant to the IRA governing instrument, Decedentâs spouse, Spouse, is designated as the sole beneficiary of the IRA after Decedentâs death. A, the child of Decedent and Spouse, is designated as the beneficiary in the event Spouse predeceases Decedent.