Individual retirement accounts : size of balance issues and enforcement of IRS rules / Jake Silva, editor.

Format:

Book

Contributor:

Silva, Jake, editor.

Series:

Retirement Issues, Plans and Lifestyles

Language:

English

Subjects (All):

Individual retirement accounts--United States.

Individual retirement accounts.

Individual retirement accounts--Taxation--Law and legislation--United States.

Physical Description:

1 online resource (126 p.)

Place of Publication:

[Hauppauge], New York : Nova Science Publishers, 2015.

Language Note:

English

Summary:

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. Congress is reexamining retirement tax incentives as part of tax reform. This book describes IRA balances in terms of reported FMV aggregated by taxpayers; examines how IRA b

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

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

Description based on online resource; title from PDF title page (ebrary, viewed May 5, 2015).

ISBN:

1-63482-177-7