Why the attack on retirement accounts?
If you have an IRA, 401k, or qualified retirement plan, you need to pay close attention to the proposed tax law changes being introduced by the Ways and Means Committee. The Committee on Ways and Means is the chief tax-writing committee of the United States House of Representatives. Their proposal, which is included as part of the 3.5 trillion-dollar infrastructure bill being pushed by the current administration, aims to increase revenue through taxation to help pay for the sweeping 10-year spending plan. The proposed taxation amendments will not only affect individual taxpayers but will affect their retirement savings as well.
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