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Tax Incentives for Retirement Savings Need Reform
Center on Budget and Policy Priorities Link to more items from this source
[Opinion]
Sept. 29, 2014
"Roughly 9,000 taxpayers have IRAs with balances that top $5 million, a [GAO] study found. Despite contribution limits to tax-advantaged retirement accounts, such balances are possible because some executives buy shares of stock for their IRAs at extremely low valuations -- sometimes less than a penny each. Those balances then swell when the stocks are valued at market price -- and the gain is tax-free."

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