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  2. Taxpayer Relief Act of 1997 - Wikipedia

    en.wikipedia.org/wiki/Taxpayer_Relief_Act_of_1997

    The Roth IRA was initially proposed by Senators William Roth of Delaware and Bob Packwood of Oregon 1989, [2] and Roth pushed for the creation of the IRAs in the 1997 legislation. [3] The act also provided tax exemptions for retirement accounts as well as education savings in the Hope credit and Lifetime Learning Credit. Some expiring business ...

  3. Roth IRA - Wikipedia

    en.wikipedia.org/wiki/Roth_IRA

    A Roth IRA is an individual retirement account (IRA) under United States law that is generally not taxed upon distribution, provided certain conditions are met. The principal difference between Roth IRAs and most other tax-advantaged retirement plans is that rather than granting an income tax reduction for contributions to the retirement plan, qualified withdrawals from the Roth IRA plan are ...

  4. Economic Growth and Tax Relief Reconciliation Act of 2001

    en.wikipedia.org/wiki/Economic_Growth_and_Tax...

    The so-called Roth 401(k)/403(b) is a new tax-qualified employer-sponsored retirement plan to become effective in 2006, and would offer tax treatment in a retirement plan similar to that offered to account holders of Roth IRAs. For plan sponsors, the law requires involuntary cash-out distributions of 401(k) accounts into a default IRA.

  5. Tax cuts are set to expire in 2025 – Is it time to do a Roth ...

    www.aol.com/finance/tax-cuts-set-expire-2025...

    No required minimum distributions from the account, as with pre-tax accounts. No tax liabilities passed on to heirs. To convert a pre-tax 401(k) or traditional IRA to a Roth IRA can be somewhat ...

  6. IRA expert: Why traditional retirement accounts have become ...

    www.aol.com/finance/ira-expert-why-traditional...

    The account owner would pay taxes on the distribution from the traditional IRA, but once in the Roth IRA, the money would grow tax-free, distributions would be tax-free, and there would be no ...

  7. Beware the retirement savings 'time bomb,' tax expert warns - AOL

    www.aol.com/finance/beware-retirement-savings...

    Provisions in the 2017 Tax Cuts and Jobs Act (TCJA) that lowered individual tax rates are scheduled to expire on Dec. 31, 2025, unless Congress acts to extend them.

  8. I Want to Retire in 4 Years. Should I Convert 25% of My 401 ...

    www.aol.com/want-retire-4-years-convert...

    Transferring some of your retirement savings from a tax-deferred account like a 401(k) to a Roth IRA can help you reduce or possibly avoid required minimum distributions (RMDs) and income taxes ...

  9. IRA taxes: Key rules to know and how much you can ... - AOL

    www.aol.com/finance/ira-taxes-key-rules-know...

    Here’s how IRAs are taxed and how you can avoid any penalty taxes on your savings. Taxes on traditional IRAs vs. Roth IRAs. IRAs come in two major varieties – the traditional IRA and the Roth IRA.