10 Essential IRA Tips for Helping Clients Save Taxes and Avoid Penalties – Denise Appleby

As is evidenced by numerous IRS private letter rulings, court cases, and other official sources, mistakes with IRA transactions is a common occurrence.
These mistakes can result in loss of tax-deferred status, and penalties being owed to the IRS.

This can lead to years of accumulated savings being lost to higher tax rates and penalties, plus the loss of the benefit of tax-deferred growth.

Advisors need to put measures in place to help their clients avoid making these mistakes; and where possible, correct mistakes that have already been made.

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