Individual Retirement Account (Ira: Fill & Download for Free

IRAS - Individual Retirement AccountIRAS - Inland Revenue Authority of SingaporeIRAS - Infrared Reflection-Absorption SpectroscopyIRAS - Infra Red Astronomical SatelliteIRAS - Implementation Of Readac Automated SystemsIRAS - Inspector Recruitment Application SystemIRAS - Integrated Research Application SystemIRAS - Institute for Risk Assessment SciencesIRAS - Individual Retirement Accounts shareIRAS - Individual Retirement AccountsIRAS - Integrated Research Approval SystemIRAS - IPsec Remote Access ServerIRAS - Retirement Accounts and SmallIRAS - Individual retirement arrangementsIRAS - infrared reflection absorption spectroscopySource : https://www.abbreviations.com/IRAS

I’ll assume you mean the terrorist organisation known as the IRA, and not the Individual Retirement Account as indicated by the Topics…Not even slightly.Like most Irish-born people (including several members of the ‘Old’ IRA of my childhood acquaintance), I hated the Provos with a passion, being aware of their ideological descent from the anti-Treaty IRA who wanted to overthrow our government and Republic. Many of us were quite happy to let the Brits sort them out, so we didn’t have to deal with the bollockses again, tyvm.

I know plenty of "rich people" because of what I do. Let me give you a glimpse into their shadowy tax avoidance strategies:Putting as much money as you can into Individual Retirement Accounts (IRA) and 401(k) Retirement Plans.Giving money to Charities, schools, foundations, and churches.Holding investments for more than a year in order to get long term Capital Gains Tax treatment. An example would be exercising Stock Options as early as possible then not selling until more than a year after exercise.Saving as much money as possible so you can live off of investment income (long term Capital Gains and Dividends).Buy-and-hold as an Investment Strategy so you aren't always generating taxable income by trading in and out of a portfolio ("churning").Buying tax-free investment instruments like Municipal Bonds.Getting a mortgage so you can take advantage of the Mortgage Interest Tax Deduction and invest the difference.Writing off investment losses, like angel investments that crater (which sucks, but the point of the write-off is to incentivize you to continue to invest in future).You can easily get your effective tax rate down to Romney-type levels if you do these. Taking some time off work and making some big planned gifts during a given year can easily gets your rate down to exactly 0% or even leave the government owing you money.There are certainly more exotic strategies available, and some people certainly do break the law, but the idea that there is a shadow system here that the majority of rich people exploit in an unethical way is wildly exaggerated.Mitt Romney (I'm not a fan, to be clear) pays < 15% effective tax rate because he:gives a lot of money to the church, andlives off of dividends and long term capital gains. To suggest that these are criminal activities is completely disingenuous.But is there a real policy debate to have here? Yes there is. Let's have it:Want to put long term cap gains from 15% back up to 20%. Then, sure, make that proposal.Eliminate the Mortgage Interest Tax Deduction (which the Bowles-Simpson Deficit Reduction Plan recommended?). Sure, make that proposal.Tax Carried Interest as ordinary income? Sure - make that proposal.Eliminate loopholes? Sure - make that proposal, and be very very specific about which ones (yes, I'm looking at you, Ryan).Let's have a real policy debate, even if it involves specific and unpopular proposals. Example: I support eliminating the mortgage interest deduction, along the lines of Simpson-Bowles. Any politicians brave enough to join me?I'd love a politician willing to propose and defend actual policy changes vs. simply fanning the flames of Class Warfare.Required reading on Simpson-Bowles: http://www.fiscalcommission.gov/sites/fiscalcommission.gov/files/documents/CoChair_Draft.pdf