If an IRA beneficiary does not take an RMD by the applicable deadline the beneficiary is subject to a 50% penalty on the amount that should have been taken out. If a spouse is the sole beneficiary of an inherited IRA and they miss an RMD, there is usually an added consequence.
Middletown, OH. Sponsored Topics. Middletown is an All-America City located in Butler and Warren counties in the southwestern part of the U.S. state of Ohio. Formerly in Lemon, Turtlecreek, and Franklin townships, Middletown was incorporated by the Ohio General Assembly on February 11, 1833, and became a city in 1886.
From Ohio History Central. Somerset, which was once known as Middletown, was formerly the county seat of Perry County, Ohio. In 1807, John Finck erected the first log cabin in what would become Somerset. Several years later, Jacob Miller arrived, becoming the second settler in this community.