Retirement plans offer a terrific opportunity for taxpayers to save for their retirement in a tax-deferred way. While several types of these plans exist, most individuals have some level of familiarity with the Individual Retirement Account (“IRA”). IRAs have limits on the allowable contributions and a schedule regarding when distributions need to begin occurring. Recently, the Biden Administration released its Fiscal Year Revenue Proposals for 2024 that contained a provision regarding preventing excessive accumulations by high-income taxpayers in such accounts. Read on to learn more.
Latest posts by The Law Offices of Juliet Cohen P.C. (see all)
- Estate Planning Webinars - April 25, 2023
- What Happens When You Don’t Trust Your Trustee – Part II - April 5, 2023
- What’s in President Biden’s Revenue Proposals? - April 1, 2023