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GAO Testimony: Preliminary Information on IRA Balances Accumulated as of 2011
U.S. Government Accountability Office [GAO] 
Oct. 22, 2014
13 pages. "In 2014, the federal government will forgo an estimated $17.5 billion in tax revenue from IRAs. Congress limited annual contributions to IRAs to prevent the tax-favored accumulation of unduly large balances, but concerns have been raised that tax benefits accrue primarily for higher income individuals. This statement provides preliminary observations based on ongoing work on information on IRA balances in terms of reported fair market value aggregated by taxpayers. GAO analyzed 2011 IRS statistical data." [GAO-14-878T, Sept. 16, 2014]
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