TaxNewsFlash-Exempt Organizations

June 25, 2008
No. 2008-57

PRINTABLE VERSION

JCT Description and Analysis of Present Law Relating to IRAs

The Joint Committee on Taxation (JCT) has released a description and analysis of current rules relating to individual retirement arrangements in the U.S. retirement system in advance of a Thursday, June 26 hearing by the Select Revenue Measures Subcommittee of the House Ways and Means Committee.

Focus of the Subcommittee’s hearing will be on a recently issued report by the Government Accountability Office (GAO) that government action could encourage more employers to offer IRAs to employees and on pending legislative proposals for automatic IRA enrollment.

The 54-page JCT document—Present Law and Analysis Relating to Individual Retirement Arrangements—includes a description of present law and analysis relating to IRAs and is available electronically on the JCT Web site: http://www.jct.gov/x-53-08.pdf.

For more information, contact Rick Speizman, National Partner-In-Charge, KPMG’s Exempt Organizations Tax Practice (ExoTax), at (202) 533-3084 or rspeizma@kpmg.com

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