Within the U.S., there are a slew of tax-advantaged retirement accounts that kind a veritable alphabet soup of acronyms. The complexity provides room for salespeople to pitch “fake” retirement accounts to unsuspecting customers.
“Section 7702 plans” are a main instance. Part 7702 of the Inside Income Service governs the taxation of life insurance coverage insurance policies. And it is true that a number of the tax benefits inside Part 7702 mimic the benefits of certified retirement plans.
However these life…
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