Saturday, December 4, 2021
News for Retirees


Cash Moved From Overseas Entity to IRAs Shielded From Excise Tax

Share this…FacebookPinterestTwitterLinkedin June 2, 2021, 7:08 PM Three people who channeled cash into their retirement accounts via a international gross…

By Staff , in Retirement Accounts , at June 3, 2021



June 2, 2021, 7:08 PM

Three people who channeled cash into their retirement accounts via a international gross sales company aren’t chargeable for excise taxes on the retirement account contributions, a federal appeals court docket dominated.

The Wednesday determination from a three-judge panel on the U.S. Court docket of Appeals for the Ninth Circuit reversed a ruling from the U.S. Tax Court docket, which held in 2018 that Angelo Mazzei, Mary Mazzei , and Celia Mazzei had been chargeable for excise taxes for making extra contributions to their Roth Particular person Retirement Accounts. Ninth Circuit Decide Daniel P. Collins wrote that it isn’t his court docket’s position to avoid wasting the …



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