Monday, June 22, 2009

Investment News: IRS shoots down new Roth ploy

Ed Slott wrote a June 21st article in Investment News about the IRS shooting down potential Roth IRA scams.

A recent IRS ruling took a major step in that direction, determining that transactions entered into by a husband and wife were "substantially similar to transactions outlined in IRS Notice 2004-8.

As Slott wrote, "An error in reporting the couple's transactions, along with the transactions themselves, has left the two exposed to severe and potentially devastating penalties."

CLICK HERE to read the article in its entirety.

-By Jared Trexler
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