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5 Potential IRA Mistakes

Look out IRA investors because the IRS looks like it will be turning its attention to taxpayers who make mistakes with their IRA accounts. (source: www.wsj.com)    This includes matching distributions to your tax returns, stepped up audits, and tighter reporting overall when it comes to scrutinizing IRA accounts.    As I have shared for the last couple of years on Your Smart Money Moves, the Government is in dire need to increase revenue to balance the budget and pay off our voluminous debt.    One way to do this is to crack down on the mistakes that we make as taxpayers.   Nobody likes coming home and getting a letter in the mail from the IRS.  So here are five mistakes you might be making for the IRS to take a closer look at your tax return. Contributions To Roth IRA Accounts –   While some of you did Roth IRA conversions back in 2010 (and some are still converting), a Roth ‘conversion’ and ...

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