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Diane Publishing Books
Individual Retirement Accounts: IRS Could Bolster Enforcement on Multimillion Dollar Accounts, but More Direction from Congress Is Needed
James R. McTigue (au); Charles A. Jeszeck (au)
Individual retirement accounts (IRA) are a key vehicle for individuals to save for retirement. IRAs hold about 26% of all retirement assets, and more than 54 million taxpayers held an estimated $5 trillion in IRAs in 2010, according to the latest published analysis by the IRS. IRAs also are increasingly important as a way for individuals to roll over savings from pension plans. 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 of unduly large balances. But concerns have been raised about whether the tax incentives encourage new or additional saving. This report (1) describes IRA balances in terms of reported fair market value (FMV) aggregated by taxpayers; (2) examines how IRA balances can become large; and (3) assesses how IRS ensures that taxpayers comply with IRA tax laws. Tables and figures. This is a print on demand report.
Carnavalia!: African-Brazilian Folklore and Crafts
Sale Price: $10.00
U.F.O.s: The Sighting of Alien People & Spacecraft From the Earliest Centuries to the Present Day
Itís Never Too Late to Get Rich: Secrets of Building a Nest Egg at Any Age
Language Imperative: How Learning Languages Can Enrich Your Life & Expand Your Mind
Peopleís Charter?: Forty Years of the National Parks & Access to the Countryside Act 1949
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