You didn't even 'feel' it, did you?
- The noose, the one that has been slipped around your necks, happy tax payers.
An insolvent and bankrupt government badly needs more money.
- Your money. Think IRA's. Think retirement savings.
Slowly. Quietly.
- The financial 'noose' is being tightened.
For tax year 2014, the IRS will be 'asking' custodians of IRA's for more information.
- Reporting this info will be voluntary. This tax year.
For 2015 reporting the additional info to the IRS will be mandatory.
- Yeah, the IRS even has a 'new' form for it, Form 5498.
- Even more data will be requested on the 1099-R's as well.
Assume the position.
- BOHICA.
1 comment:
Great article. Thanks for the info, very helpful. BTW, if anyone needs to fill out a form 5498, I found a blank form here: http://goo.gl/1qZKWW
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