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Who Pays for a Mistake in Your IRA?
Slott Report 
July 20, 2016 "Why are these penalties owed by you, the innocent IRA owner? Because the 'I' in IRA stands for 'individual.' The tax code is structured so that you are totally, 100%, responsible for the correct operation of your IRA.... Employer plan participants may not be at as much risk, but they will be responsible for any amounts distributed to them or that are deemed to be distributed to them." MORE >> |
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