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Roth, LSA and RSA question


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Guest splash2mel
Posted

Does anyone know if the LSA and RSA accounts were cut from the new tax plan? Are there any changes to the Roth IRA?

Posted

The LSA and RSA accounts were never a part of the current tax plan. These were two completely separate "proposals" from the Administration.

No one in Congress has introduced proposed legislation similar to the LSA and RSA proposals. The whole idea died after the Administration proposed it. It may again resurface when the Portman-Cardin bill is marked up in the Ways and Means Committee (sometime in the next few weeks), by an amendment to that bill. However, there is very little support for anything along the lines of LSA and RSA by anyone in Congress.

Nothing in the agreed-to tax bill has changed IRAs in any way (at least up to now - the actual language of the agreed-to tax bill is purely verbal at this point, there is no bill).

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