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Joey DiDomenico has published an IRA Policy Brief. Click to see it.
In the brief, the extent of the problem of non-compliance of IRA assets is described in detail. Prohibited transactions and under-reporting poses risks to retirement savings for millions of Americans and the loss of tax revenue for the federal government.
Technology will be playing a significant roll enabling retirement account owners to stay compliant with the rules governing investment permissibility, reporting, taxation, and ongoing activity constraints. Technology is also being deployed by the IRS in their efforts to inform taxpayers of the information they need to invest in alternative investments in their IRAs as well as identify IRA accounts for examination.
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