More than 2,000 FSI members have succeeded in lobbying efforts to get a provision removed from the Highway Bill proposing that stretch IRAs be taxed over five years instead of a lifetime. Senate Majority Leader Harry Reid amended the bill and commented that in light of the economy and how difficult it is to save, it was critical that the provision be retracted from the bill. If left as it was, the bill would have deterred the savings efforts of many American people.
See Danielle Reed, FSI Says It Helps Get Stretch IRA Tax Rule Dropped From Federal Highway Bill, Financial Planning, Feb. 22, 2012.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
