"Uncle Sam is about to get a lot tougher on individual retirement account mistakes—and that could trip up investors who aren't careful."
This article highlights costly IRA mistakes and cites statistics from the Treasury Inspector General for Tax Administration (TIGTA) report on the hundreds of millions of dollars IRS is losing by not collecting penalties for IRA errors, such as missed required minimum distributions (the 50% penalty) and excess contributions (the 6% penalty).
IRS WILL start cracking down on this possibly beginning later this year.
http://online.wsj.com/article/SB10001424052702304441404577480690440266320.html?mod=ITP_businessandfinance_5
IRA rules are complicated and require specialized expertise. Is your advisor up to the task? Probably not.
