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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.
Beneficiaries are those who inherit from you, and they can do so in a number of ways. You might designate someone to receive your retirement account, investment account or life insurance proceeds.You can name a beneficiary in your will or trust to take some or all of your estate when you die.But there are two kinds of beneficiaries -- contingent and primary -- and if you name someone as a contingent beneficiary, he may never inherit anything from you at all.our primary beneficiary is the individual you designate to receive an asset or gift from your estate at the time of your death. If he outlives you and you donât change your estate plan to name someone else, heâs guaranteed to receive this inheritance.