“If you put too much in an Individual Retirement Account, you can expect to hear from the Internal Revenue Service. That’s the bottom line of a new report by the Treasury Inspector General for Tax Administration, ‘Actions Can Be Taken To Further Improve The Strategy For Addressing Excess Contributions To Individual Retirement Arrangements.’ It’s not just taxpayers making mistakes. When analyzing tax year 2011 Forms 5498 for excess contributions, TIGTA determined that approximately 834,000 (7 percent) of 11.9 million Forms 5498 filed by IRA custodians appeared to be inaccurate.”
http://www.forbes.com/sites/ashleaebeling/2015/04/23/the-danger-of-overstuffing-your-ira/
Related posts:
Help Thy Neighbor and Go Straight to Prison
Deported veterans' group ignores Border Patrol, repaints border wall mural
Libyan-American Rapper Khaled M Removed From Plane, Detained
Gold Analysts Get Most Bullish in a Year After Rout
China media warns Philippines of 'counterstrike' in South China Sea
Woman hoards 30 Government Life line phones or Obama phones
Fatal shooting of double amputee sparks call for Houston police reforms
White House Granted Itself ‘High Security Risk’ Healthcare.gov Waiver
Companies 'work around' U.S. oil export ban
Spain's Central Bank Seeks Minimum Wage Suspension
Federal Lawsuit Questions if Washington State Can Tax Marijuana
Mexican Peso's Surprising Drop Spurs Speculation Banxico to Act
Donald Trump gets into crowdfunding
Disturbing Video Shows Court Officer Sexually Assaulting, Then Arresting Mother, Judge Does Nothing
Yahoo Japan develops 3D search engine-printer