Individual retirement accounts : size of balance issues and enforcement of IRS rules /
In 2014, the federal government will forgo an estimated 17.45 billion in tax revenue from IRAs, which Congress created to ensure equitable tax treatment for those not covered by employer-sponsored retirement plans. Congress limited annual contributions to IRAs to prevent the tax-favored accumulation...
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| Format: | Electronic eBook |
|---|---|
| Language: | English |
| Published: |
New York :
Nova Science Publishers, Inc.,
[2015]
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| Series: | Retirement issues, plans and lifestyles.
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| Subjects: | |
| Online Access: | CONNECT |
Table of Contents:
- INDIVIDUAL RETIREMENT ACCOUNTS: SIZE OF BALANCE ISSUES AND ENFORCEMENT OF IRS RULES; INDIVIDUAL RETIREMENT ACCOUNTS: SIZE OF BALANCE ISSUES AND ENFORCEMENT OF IRS RULES; Library of Congress Cataloging-in-Publication Data; CONTENTS; PREFACE; Chapter 1: INDIVIDUAL RETIREMENT ACCOUNTS: IRS COULD BOLSTER ENFORCEMENT ON MULTIMILLION DOLLAR ACCOUNTS, BUT MORE DIRECTION FROM CONGRESS IS NEEDED; WHY GAO DID THIS STUDY; WHAT GAO RECOMMENDS; WHAT GAO FOUND; ABBREVIATIONS; BACKGROUND; FEW TAXPAYERS HAD REPORTED IRA BALANCES GREATER THAN 5 MILLION.
- Alternate strategies are likely the cause oflarge ira balances that congress may nothave intendedirs has dedicated resources to ira compliancebut faces challenges with nonpublicly tradedira investments; conclusion; matter for congressional consideration; recommendations for executive action; agency comments; appendix i: objectives, scope, and methodology; appendix ii: illustration of earnings and taxeffects of traditional and roth individualretirement accounts; appendix iii: tables from statistics of incomedata for tax year 2011.
- APPENDIX IV: EXAMPLES OF STRATEGIES TOACCUMULATE LARGE INDIVIDUALRETIREMENT ACCOUNTSAPPENDIX V: EXPANDED FIGURE 9 ON FORM 5498; Chapter 2: TESTIMONY OF SCOTT F. BETTS, SENIOR VICE PRESIDENT OF NATIONALBENEFITS SERVICES, LLC. HEARING ON"RETIREMENT SAVINGS 2.0: UPDATINGSAVINGS POLICY FORTHE MODERN ECONOMY"; Chapter 3: STATEMENT OF ELLEN E. SCHULTZ, AUTHOR AND INVESTIGATIVE REPORTER. HEARING ON "RETIREMENT SAVINGS 2.0:UPDATING SAVINGS POLICY FORTHE MODERN ECONOMY"; INDEX.
