Locked and merged threads on proposed budget

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hotscot
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Locked and merged threads on proposed budget

Post by hotscot »

[This is a reminder that discussions of proposed legislation are prohibited on this site. When this is signed into law we will open up the discussion. Until then any new threads on this topic will be deleted or moved here. Those posting such threads may receive anything from no notification to an official warning. - admin alex]

Not sure where to put this as I believe it's not 'actionable'.
But should be of interest to some.
Please advise.

https://www.msn.com/en-us/news/other/ho ... li=BBnbfcL
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iceport
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Re: New Retirement Rules proposed.

Post by iceport »

Oh, it's of interest, but discussions of proposed legislation before it becomes law are not permitted, so this will be locked...
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donfairplay
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CNBC - upcoming budget proposal, backdoor Roth ban, $10MM retirement account contribution limits

Post by donfairplay »

[Thread merged into here --admin LadyGeek]

https://www.cnbc.com/2021/09/13/house-d ... althy.html

Backdoor Roth conversions and mega-backdoor conversions are to be outlawed. If you have a total value of combined IRAs/Roth IRAs + defined contribution plans (401ks) of $10 million or more, and also have an income above $400,000 (single), you'll have to take an RMD of 50% above the new $10 million limit. Mega IRAs also have new RMDs at that income level.
jarjarM
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Re: CNBC - upcoming budget proposal, backdoor Roth ban, $10MM retirement account contribution limits

Post by jarjarM »

But there's no guarantee that current proposal will turn into law and it'll just lead to political bickering... In before lock

P.S. Also, lots of the current proposal is political posturing anyway.
Last edited by jarjarM on Mon Sep 13, 2021 1:30 pm, edited 1 time in total.
KineticSync
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Re: CNBC - upcoming budget proposal, backdoor Roth ban, $10MM retirement account contribution limits

Post by KineticSync »

Looks like after tax in-plan Roth conversions may be under the gun for all income levels if I read that section correctly.
JD2775
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Re: CNBC - upcoming budget proposal, backdoor Roth ban, $10MM retirement account contribution limits

Post by JD2775 »

KineticSync wrote: Mon Sep 13, 2021 1:28 pm Looks like after tax in-plan Roth conversions may be under the gun for all income levels if I read that section correctly.
Yea at first glance I was thinking...."meh, none of this really applies to me, I dont earn that much" but after reading closer there are a cpl things that definitely would affect me it looks like
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Cheez-It Guy
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Re: CNBC - upcoming budget proposal, backdoor Roth ban, $10MM retirement account contribution limits

Post by Cheez-It Guy »

Assume this will be locked, though I hope not.

I hope they at least would consider raising the income thresholds for preventing direct contribution to Roth IRAs, because the amount you can put in is already pretty heavily limited.

Many of these changes would be quite relevant to early retirement plans.
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LadyGeek
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Re: CNBC - upcoming budget proposal, backdoor Roth ban, $10MM retirement account contribution limits

Post by LadyGeek »

This thread has run its course and is locked. Speculation about future legislation is prohibited by forum policy, see: Unacceptable Topics
Politics and Religion

In order to avoid the inevitable frictions that arise from these topics, political or religious posts and comments are prohibited. The only exceptions to this rule are:
  • Common religious expressions such as sending your prayers to an ailing member.
  • Usage of factual and non-derogatory political labels when necessary to the discussion at hand.
  • Discussions about enacted laws or regulations that affect the individual investor. Note that discussions of proposed legislation are prohibited.
  • Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments.
This forum is focused on investing that is directly actionable to personal investors. We don't hold debates on conjecture.

The whole point of the policy is to (1) eliminate contentious disagreements that result from these discussions and (2) keep investors from making bad decisions. Proposed legislation changes many times between the time it's introduced and signed into law.

The disagreements will indeed occur, which is more work for the moderators and results in locking the thread. See: Yellen: "We're taking a look at negative interest rates."

donfairplay's thread has been merged into here. The combined thread is in the Investing - Theory, News & General forum.

The topic remains locked.
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ZoomiesRUS
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Backdoor/Mega Roth options illegal after Dec 31 2021?

Post by ZoomiesRUS »

The newly unveiled outline for tax proposals in the Ways and Means committee of the US congress has just proposed completely closing the Backdoor Route for the Roth contributions :( .
If this becomes law - The income limits would be the threshold deciding who can and cannot contribute to Roth.
https://waysandmeans.house.gov/sites/de ... leISxS.pdf
Quote:

Code: Select all

" Furthermore, this section prohibits all employee after-tax contributions in qualified plans and 
prohibits after-tax IRA contributions from being converted to Roth regardless of income level, 
effective for distributions, transfers, and contributions made after December 31, 2021. " 
Seems like the tax deferred space is rapidly shrinking for high-income (Income > 200K) folks. This will result in the middle class (especially in US coastal regions) being hit with the most tax. Any thoughts on asset location strategies if this thing passes?
(summary: https://www.cnbc.com/2021/09/13/house-d ... althy.html )
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Re: CNBC - upcoming budget proposal, backdoor Roth ban, $10MM retirement account contribution limits

Post by LadyGeek »

^^^ I merged ZoomiesRUS's thread into the ongoing discussion.

The thread remains locked for the reasons stated in my previous post.
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Linkin06
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Dems propose removing megabackdoor and restricting backdoor

Post by Linkin06 »

[Thread merged into the existing locked thread on the same topic - Moderator Misenplace]

https://www.cnbc.com/2021/09/13/house-d ... althy.html

uhg...I tend to vote D but cmon guys! i'm not the whale you're looking for!
Chuckles960
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Re: Dems propose removing megabackdoor and restricting backdoor

Post by Chuckles960 »

Although this appears to run afoul of the rules, it is clearly an important topic for people on this forum.
runner3081
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Re: Dems propose removing megabackdoor and restricting backdoor

Post by runner3081 »

Sigh, wish people would know the rules before posting on prohibited subjects.
MrCheapo
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Re: Dems propose removing megabackdoor and restricting backdoor

Post by MrCheapo »

Linkin06 wrote: Mon Sep 13, 2021 4:54 pm https://www.cnbc.com/2021/09/13/house-d ... althy.html

uhg...I tend to vote D but cmon guys! i'm not the whale you're looking for!
I'm one of those guys who can put aside $58K each year after tax into a DCP plan and then it gets rolled over into the ROTH. Does this change affect me? I could never work out if it was a megabackdoor roth or not.
BernardShakey
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Re: Dems propose removing megabackdoor and restricting backdoor

Post by BernardShakey »

Looks like the House is dropping from their plan the elimination of the step up in basis for inherited assets. I guess we can't discuss details.
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Re: Dems propose removing megabackdoor and restricting backdoor

Post by willthrill81 »

In before the lock.

The likelihood of this legislation passing as is seems remote. It's more about political signaling to certain constituent groups than anything else.
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willthrill81
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Re: Dems propose removing megabackdoor and restricting backdoor

Post by willthrill81 »

BernardShakey wrote: Mon Sep 13, 2021 4:58 pm Looks like the House is dropping from their plan the elimination of the step up in basis for inherited assets. I guess we can't discuss details.
Sure, like Congress is going to handicap themselves by eliminating that provision. :P
“Good and ill have not changed since yesteryear; nor are they one thing among Elves and Dwarves and another among Men.” J.R.R. Tolkien, The Lord of the Rings
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Re: Dems propose removing megabackdoor and restricting backdoor

Post by BernardShakey »

willthrill81 wrote: Mon Sep 13, 2021 4:59 pm
BernardShakey wrote: Mon Sep 13, 2021 4:58 pm Looks like the House is dropping from their plan the elimination of the step up in basis for inherited assets. I guess we can't discuss details.
Sure, like Congress is going to handicap themselves by eliminating that provision. :P
Agree completely :sharebeer
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Re: CNBC - upcoming budget proposal, backdoor Roth ban, $10MM retirement account contribution limits

Post by Misenplace »

Yet another thread started on this topic has been merged into the existing locked thread. Discussions of Proposed Legislation are off topic for the forum, and against forum rules. The reasons are elaborated in LadyGeek's post above:

Subject: CNBC - upcoming budget proposal, backdoor Roth ban, $10MM retirement account contribution limits

The topic will remain locked.
Juice3
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Proposal to Eliminate the Mega Backdoor Roth IRA

Post by Juice3 »

[Thread merged into here --admin LadyGeek]

https://www.thinkadvisor.com/2021/09/13 ... crackdown/

Excerpt from the article:
Elimination of Mega Backdoor Roth

This section prohibits all employee after-tax contributions in qualified plans and prohibits after-tax IRA contributions from being converted to Roth IRAs regardless of income level, effective for distributions, transfers and contributions made after Dec. 31, 2021.

The plan “would be an all-out ban on backdoor Roths from IRAs and mega backdoor Roths from plans, regardless of income,” Slott said. “At least this inadvertently finally answered the question of whether backdoor Roths are legal. They obviously are, because if they weren’t Congress would not need to end them.”
[ quote fixed by admin LadyGeek]

What are your plans to replace MBR tax strategy?
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JoMoney
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by JoMoney »

Segments of congress "propose" all sorts of things that never happen. This board doesn't allow speculation on "proposed" laws.

My plans are to pay my taxes, but use every opportunity to defer and minimize them.
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an_asker
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by an_asker »

Something tells me that this will join the other threads that have been combined and locked ;-)
pizzy
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by pizzy »

Can someone explain what this rule applies to if not something like this?

"Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments."
Juice3
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by Juice3 »

an_asker wrote: Tue Sep 14, 2021 8:12 am Something tells me that this will join the other threads that have been combined and locked ;-)
Probably right.

Perhaps the discussion should continue here
https://www.reddit.com/r/Fire/comments/ ... _roth_ira/
Juice3
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by Juice3 »

pizzy wrote: Tue Sep 14, 2021 8:12 am Can someone explain what this rule applies to if not something like this?

"Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments."
Of course you left out the part of the rules you do not like:

Discussions about enacted laws or regulations that affect the individual investor. Note that discussions of proposed laws or regulations are prohibited.
Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments.
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by Walkure »

pizzy wrote: Tue Sep 14, 2021 8:12 am Can someone explain what this rule applies to if not something like this?

"Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments."
The article is describing proposed legislation, which is off topic, as Congress does not have a statutory requirement to solicit "public comment" before passing a law. Proposed regulations, on the other hand, are introduced by departments of the executive branch (e.g. the IRS, SEC) pursuant to their statutory authority to administer the laws Congress passes. Often the rulemaking process stipulates that these draft regulations be opened for public comment. That is what the Bogleheads rule applies to.
pizzy
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by pizzy »

Walkure wrote: Tue Sep 14, 2021 8:17 am
pizzy wrote: Tue Sep 14, 2021 8:12 am Can someone explain what this rule applies to if not something like this?

"Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments."
The article is describing proposed legislation, which is off topic, as Congress does not have a statutory requirement to solicit "public comment" before passing a law. Proposed regulations, on the other hand, are introduced by departments of the executive branch (e.g. the IRS, SEC) pursuant to their statutory authority to administer the laws Congress passes. Often the rulemaking process stipulates that these draft regulations be opened for public comment. That is what the Bogleheads rule applies to.
Makes perfect sense, thank you very much.
pizzy
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by pizzy »


Of course you left out the part of the rules you do not like:
Says the OP,,,,,,,
Juice3
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by Juice3 »

pizzy wrote: Tue Sep 14, 2021 8:19 am
Walkure wrote: Tue Sep 14, 2021 8:17 am
pizzy wrote: Tue Sep 14, 2021 8:12 am Can someone explain what this rule applies to if not something like this?

"Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments."
The article is describing proposed legislation, which is off topic, as Congress does not have a statutory requirement to solicit "public comment" before passing a law. Proposed regulations, on the other hand, are introduced by departments of the executive branch (e.g. the IRS, SEC) pursuant to their statutory authority to administer the laws Congress passes. Often the rulemaking process stipulates that these draft regulations be opened for public comment. That is what the Bogleheads rule applies to.
Makes perfect sense, thank you very much.
Can you start your own thread on board rules. You are way off topic.

My question is investing advice as it related to tax optimization.
pizzy
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by pizzy »

Perhaps the discussion should continue here:

https://www.reddit.com/r/Fire/comments/ ... _roth_ira/
mervinj7
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by mervinj7 »

Juice3 wrote: Tue Sep 14, 2021 8:22 am Can you start your own thread on board rules. You are way off topic.

My question is investing advice as it related to tax optimization.
Your question is related to proposed legislation which is not permitted and will be locked shortly.
Juice3
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by Juice3 »

pizzy wrote: Tue Sep 14, 2021 8:24 am Perhaps the discussion should continue here:

https://www.reddit.com/r/Fire/comments/ ... _roth_ira/
That would certainly generate a lot more diversity of opinion.
DMoogle
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by DMoogle »

I'm not sure what you're looking for. The MBDR is a tax loophole. If it's closed, it's closed. There's no real "alternative." The money I currently allocate for MBDR would be going to my taxable account instead.
FlyingMoose
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by FlyingMoose »

In before the lock...

I’m more concerned about the elimination of Roth 401(k) and 403(b) for all income levels because I contribute to a Roth 403(b)
runninginvestor
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by runninginvestor »

Juice3 wrote: Tue Sep 14, 2021 8:15 am
pizzy wrote: Tue Sep 14, 2021 8:12 am Can someone explain what this rule applies to if not something like this?

"Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments."
Of course you left out the part of the rules you do not like:

Discussions about enacted laws or regulations that affect the individual investor. Note that discussions of proposed laws or regulations are prohibited.
Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments.
I interpreted the public comment portion to be when the government asks for public comments. Usually with rulemaking.

https://www.regulations.gov/

I may be wrong though.
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anon_investor
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by anon_investor »

DMoogle wrote: Tue Sep 14, 2021 8:42 am The MBDR is a tax loophole. If it's closed, it's closed. There's no real "alternative." The money I currently allocate for MBDR would be going to my taxable account instead.
+1.
fm3040
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Excerpts - Proposed House Bill - Plan After-Tax, Roth, etc. accordingly

Post by fm3040 »

[Thread merged into here --admin LadyGeek]

Part 3 – Modification of Rules Relating to Retirement Plans
Subpart A – Limitations on High-Income Taxpayers with Large Retirement Account
Balances
Sec. 138301. Contribution Limit for Individual Retirement Plans of High-Income
Taxpayers with Large Account Balances.
Under current law, taxpayers may make contributions to IRAs irrespective of how much they
already have saved in such accounts. To avoid subsidizing retirement savings once account
balances reach very high levels, the legislation creates new rules for taxpayers with very large
IRA and defined contribution retirement account balances.
Specifically, the legislation prohibits further contributions to a Roth or traditional IRA for a
taxable year if the total value of an individual’s IRA and defined contribution retirement
accounts generally exceed $10 million as of the end of the prior taxable year. The limit on
contributions would only apply to single taxpayers (or taxpayers married filing separately) with
taxable income over $400,000, married taxpayers filing jointly with taxable income over
$450,000, and heads of households with taxable income over $425,000 (all indexed for
inflation).
The legislation also adds a new annual reporting requirement for employer defined contribution
plans on aggregate account balances in excess of $2.5 million. The reporting would be to both
the Internal Revenue Service and the plan participant whose balance is being reported.
The provisions of this section are effective tax years beginning after December 31, 2021.


Sec. 138302. Increase in Minimum Required Distributions for High-Income Taxpayers
with Large Retirement Account Balances.
If an individual’s combined traditional IRA, Roth IRA and defined contribution retirement
account balances generally exceed $10 million at the end of a taxable year, a minimum
distribution would be required for the following year. This minimum distribution is only

required if the taxpayer’s taxable income is above the thresholds described in the section above
(e.g., $450,000 for a joint return). The minimum distribution generally is 50 percent of the
amount by which the individual’s prior year aggregate traditional IRA, Roth IRA and defined
contribution account balance exceeds the $10 million limit.
In addition, to the extent that the combined balance amount in traditional IRAs, Roth IRAs and
defined contribution plans exceeds $20 million, that excess is required to be distributed from
Roth IRAs and Roth designated accounts in defined contribution plans up to the lesser of (1) the
amount needed to bring the total balance in all accounts down to $20 million or (2) the aggregate
balance in the Roth IRAs and designated Roth accounts in defined contribution plans. Once the
individual distributes the amount of any excess required under this 100 percent distribution rule,
then the individual is allowed to determine the accounts from which to distribute to satisfy the 50
percent distribution rule above.
This provision is effective tax years beginning after December 31, 2021.


Subpart B – Other Provisions Relating to Individual Retirement Accounts
Sec. 138311. Tax Treatment of Rollovers to Roth IRAs and Accounts.
Under current law, contributions to Roth IRAs have income limitations. For example, the
income range for single taxpayers for making contributions to Roth IRAs for 2021 is $125,000 to
$140,000. Those single taxpayers with income above $140,000 generally are not permitted to
make Roth IRA contributions.
However, in 2010, the similar income limitations for Roth IRA conversions were repealed,

which allowed anyone to contribute to a Roth IRA through a conversion. irrespective of the still-
in-force income limitations for Roth IRA contributions. As an example, if a person exceeds the

income limitation for contributions to a Roth IRA, he or she can make a nondeductible
contribution to a traditional IRA – and then shortly thereafter convert the nondeductible
contribution from the traditional IRA to a Roth IRA.
In order to close these so-called “back-door” Roth IRA strategies, the bill eliminates Roth
conversions for both IRAs and employer-sponsored plans for single taxpayers (or taxpayers
married filing separately) with taxable income over $400,000, married taxpayers filing jointly
with taxable income over $450,000, and heads of households with taxable income over $425,000
(all indexed for inflation). This provision applies to distributions, transfers, and contributions
made in taxable years beginning after December 31, 2031.

Furthermore, this section prohibits all employee after-tax contributions in qualified plans and
prohibits after-tax IRA contributions from being converted to Roth regardless of income level,
effective for distributions, transfers, and contributions made after December 31, 2021.




Sec. 138312. Prohibition of IRA Investments Conditioned on Account Holder’s Status.
The bill prohibits an IRA from holding any security if the issuer of the security requires the IRA
owner to have certain minimum level of assets or income, or have completed a minimum level of
education or obtained a specific license or credential. For example, the legislation prohibits

IRAs from holding investments which are offered to accredited investors because those
investments are securities that have not been registered under federal securities laws. IRAs
holding such investments would lose their IRA status. This section generally takes effect for tax
years beginning after December 31, 2021, but there is a 2-year transition period for IRAs already
holding these investments.
Sec. 138313. Statute of Limitations with Respect to IRA Noncompliance.
The bill expands the statute of limitations for IRA noncompliance related to valuation-related
misreporting and prohibited transactions from 3 years to 6 years to help IRS pursue these
violations that may have originated outside the current statute’s 3-year window. This provision
applies to taxes to which the current 3-year period ends after December 31, 2021.
KineticSync
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by KineticSync »

FlyingMoose wrote: Tue Sep 14, 2021 8:51 am In before the lock...

I’m more concerned about the elimination of Roth 401(k) and 403(b) for all income levels because I contribute to a Roth 403(b)
Yeah, the complete elimination of the roth 401k is a concern.

Apparently also in before the lock...
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Re: CNBC - upcoming budget proposal, backdoor Roth ban, $10MM retirement account contribution limits

Post by LadyGeek »

I merged Juice3's and fm3040's threads into the ongoing discussion.

As noted earlier, speculation about future legislation is prohibited by forum policy, see: Unacceptable Topics
Politics and Religion

In order to avoid the inevitable frictions that arise from these topics, political or religious posts and comments are prohibited. The only exceptions to this rule are:
  • Common religious expressions such as sending your prayers to an ailing member.
  • Usage of factual and non-derogatory political labels when necessary to the discussion at hand.
  • Discussions about enacted laws or regulations that affect the individual investor. Note that discussions of proposed legislation are prohibited.
  • Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments.
This forum is focused on investing that is directly actionable to personal investors. We don't hold debates on conjecture.

The whole point of the policy is to (1) eliminate contentious disagreements that result from these discussions and (2) keep investors from making bad decisions. Proposed legislation changes many times between the time it's introduced and signed into law.

The disagreements will indeed occur, which is more work for the moderators and results in locking the thread. See: Yellen: "We're taking a look at negative interest rates."

donfairplay's thread has been merged into here. The combined thread is in the Investing - Theory, News & General forum.

The topic remains locked.
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Re: Proposal to Eliminate the Mega Backdoor Roth IRA

Post by LadyGeek »

runninginvestor wrote: Tue Sep 14, 2021 9:14 am
Juice3 wrote: Tue Sep 14, 2021 8:15 am
pizzy wrote: Tue Sep 14, 2021 8:12 am Can someone explain what this rule applies to if not something like this?

"Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments."
Of course you left out the part of the rules you do not like:

Discussions about enacted laws or regulations that affect the individual investor. Note that discussions of proposed laws or regulations are prohibited.
Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments.
I interpreted the public comment portion to be when the government asks for public comments. Usually with rulemaking.

https://www.regulations.gov/

I may be wrong though.
Please see a detailed explanation of the legislative process here: Re: Political comments and proposed tax plan remain off-topic (November 03, 2017)

The post also explains the difference between legislation and regulations.

(Topic remains locked.)
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MilburnJr
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Proposal to get rid of Backdoor and MegaBack door Roth options?

Post by MilburnJr »

[Thread merged into here --admin LadyGeek]

This was a bummer to read. I always thought these types of proposals would come "later". Just as the Megaback door options start to pick up too! I doubt it will pass this time around but does have me wondering when something like this will...

https://www.cnbc.com/2021/09/13/house-d ... althy.html
Last edited by MilburnJr on Tue Sep 14, 2021 1:55 pm, edited 1 time in total.
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Re: Proposal to get rid of Backdoor and MegaBack door Roth options?

Post by KingRiggs »

In before the lock... :sharebeer
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samsoes
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Re: Proposal to get rid of Backdoor and MegaBack door Roth options?

Post by samsoes »

Flag on the play...!
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Re: Proposal to get rid of Backdoor and MegaBack door Roth options?

Post by jarjarM »

in before lock :twisted:
an_asker
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Re: Proposal to get rid of Backdoor and MegaBack door Roth options?

Post by an_asker »

Looks like this is a multi-headed hydra! :oops:

I wonder if moderators can allow this discussion to continue unfettered... by giving it a sandbox, just like the humble brag thread (or whatever it is now called lol).

Then, if the legislation goes through, make it a full-fledged "real" thread. If it doesn't, just delete the sandbox!
Boglegrappler
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Re: Proposal to get rid of Backdoor and MegaBack door Roth options?

Post by Boglegrappler »

The current memo from Ways and Means appears to propose the limitation only apply to top tier taxpayers. Taxable income of over 450k for married filing jointly.
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anon_investor
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Re: Proposal to get rid of Backdoor and MegaBack door Roth options?

Post by anon_investor »

Boglegrappler wrote: Tue Sep 14, 2021 1:57 pm The current memo from Ways and Means appears to propose the limitation only apply to top tier taxpayers. Taxable income of over 450k for married filing jointly.
But they plan to get rid of MBR for everyone...
runner3081
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Re: Proposal to get rid of Backdoor and MegaBack door Roth options?

Post by runner3081 »

Rules, folks. Can't talk about this!
Misenplace
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Re: Proposal to get rid of Backdoor and MegaBack door Roth options?

Post by Misenplace »

This thread is locked. Speculation about future legislation is prohibited by forum policy, see: Unacceptable Topics
Politics and Religion

In order to avoid the inevitable frictions that arise from these topics, political or religious posts and comments are prohibited. The only exceptions to this rule are:
  • Common religious expressions such as sending your prayers to an ailing member.
  • Usage of factual and non-derogatory political labels when necessary to the discussion at hand.
  • Discussions about enacted laws or regulations that affect the individual investor. Note that discussions of proposed legislation are prohibited.
  • Proposed regulations that are directly related to investing may be discussed if and when they are published for public comments.
This forum is focused on investing that is directly actionable to personal investors. We don't hold debates on conjecture.

The whole point of the policy is to (1) eliminate contentious disagreements that result from these discussions and (2) keep investors from making bad decisions. Proposed legislation changes many times between the time it's introduced and signed into law.

The disagreements will indeed occur, which is more work for the moderators and results in locking the thread. See: Yellen: "We're taking a look at negative interest rates."
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LadyGeek
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Re: CNBC - upcoming budget proposal, backdoor Roth ban, $10MM retirement account contribution limits

Post by LadyGeek »

^^^ I merged MilburnJr's thead into the ongoing discussion.

(Thread remains locked.)
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