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Strategies & Market Trends : IRS, Tax related strategies--Traders -- Ignore unavailable to you. Want to Upgrade?

To: D.Lu who wrote (1209)	10/1/2000 10:21:36 PM
From: Stuart T	Respond to of 1383

The IRS does not monitor individual trades of IRAs. All the IRS get is a form showing the total value of the account at year end( I think it's a Form 5498). As to audits of IRA accounts, it doesn't happen. The IRS does not have the staff necessary for these audits. An employer sponsored retirement plan (ex. 401k) has a substantially greater chance of an audit than an IRA does. The last statistics I saw from the IRS showed the chance of an audit for employer sponsored plans was about 1-2%.