Why the IRS is toothless in the fight against supersized IRAs
On Thursday's Breakfast with Benjamin menu, the Government Accountability Office solves the riddle of the multimillion-dollar IRA. Plus: Oil stocks bounce on the Senate's Keystone 'no' vote, seniors can't wait for Social Security, and strippers pose a threat to the '1099 economy.'
- Government Accountability Office solves the riddle of the multimillion-dollar IRA. Turns out the IRS is toothless in the fight because of endless legal disputes over asset values. Filling retirement accounts with stock that isn’t publicly traded.
- Some oil stocks are riding high following the Senate’s pretend vote on the Keystone pipeline. Is this a great country, or what? GLF, PSX, RDC
- Despite the advantages, almost nobody delays taking their Social Security benefits. Just 3% wait till they’re 70 years old.
- The “1099 economy” of contract workers has taken a bit of a hit because of a lawsuit filed by some strippers in New York. The ultimate fallout spreads all the way to Silicon Valley. In case you thought “performance fees” applied only to hedge funds.
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