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Royal screwup with a 401k and the IRS

Discussion in 'Sports and News' started by trifectarich, Apr 4, 2014.

  1. trifectarich

    trifectarich Well-Known Member

  2. LongTimeListener

    LongTimeListener Well-Known Member

    This doesn't have much to do with 401k and I don't believe the word 401k was even in the story.

    This is a guy who was trying to do a tax dodge by holding three different IRAs and transferring his distribution required minimum distribution from one IRA (which means he's really old and really rich) EDIT it wasn't necessarily a required minimum distribution, I read that wrong, but the rest stands back into two different IRAs., a least one of which I'm guessing he opened for the sole purpose of dodging the taxes on the required minimum distribution.

    This is a 1 percenter problem all the way.
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