Sun, 26 March 2017
IS THE IRS NOW EMPOWERED TO TAX IRA, 401k & OTHER QUALIFIED PLAN DISTRIBUTIONS AT 35% TO 50% STARTING IN 2017?
Today's FEATURE focuses on a recent report by Mark Skousen a PHD in economics and well-known author who maintains that there is a provision in the Tax & Responsibility Act (TEFRA) enacted in 1982 that can tax minimum required distributions from qualified plans at rates as high as 50%. He calls it "the economic bombshell of the century". We haven't been able to confirm the exact circumstances that would create this ostensibly new tax but we should all make an inquiry with our CPAs. Other topics include: The Republicans self-inflicted wounds, Auto lenders on a bad trip, Cities find life after malls, Maricopa County's #1 population growth, the NEW OIL, David Rockefeller RIP, Howard Schultz' star bucks, Debunking the Obama myth and the hypocrisy of John McCain.
Direct download: TMB-17-03-26-is-IRS-now-empowered-to-tax-iras-etc.mp3
Category:News & Politics -- posted at: 8:07pm PDT