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- Title
TIPRA and the Roth IRA.
- Authors
Bader, Mary; Schroeder, Steve
- Abstract
The article discusses the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA), as well as its implications for the accounting practice in the U.S. Under TIPRA, income from a 2010 conversion of a traditional individual retirement accounts (IRA) to a Roth IRA is included in the taxpayer's income over a two-year period, beginning in 2011. As a result, a high-income taxpayer has effectively been prohibited from establishing a Roth IRA or converting a traditional IRA to a Roth IRA.
- Subjects
UNITED States; INDIVIDUAL retirement account laws; ACCOUNTING laws; TAX laws; INCOME tax laws
- Publication
CPA Journal, 2007, Vol 77, Issue 5, p48
- ISSN
0732-8435
- Publication type
Article