house ways and means committee | Ed Slott and Company, LLC

house ways and means committee

A Possible Solution to the “Mega IRA” Restrictions

By Ian Berger, JD
IRA Analyst
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The Build Back Better Act of 2021, recently passed by the House Ways and Means Committee, includes a number of retirement plan provisions.  They were summarized in the September 22, 2021 Slott Report.

Congress Looks to Eliminate Back-Door Roth Strategies

The House Ways and Means Committee has released a draft of proposed changes to retirement accounts, including adding income limits for conversions and eliminating the back-door Roth conversion strategy. These proposals are designed to raise revenue and are likely, at least in part, a response to recent headlines about large Roth IRAs held by billionaires. Unless otherwise noted, the proposals would be effective for 2022. Here is what this means for your retirement account.

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