Roth IRA income limit

March 12, 2008 10:02 PM

How does the IRS find out if you exceed the income limit and contribute to a Roth IRA?
posted by Kimpossible to work & money (3 comments total)

They look at your tax return.
posted by The World Famous at 10:04 PM on March 12

Also, I believe they look at the statements your bank or brokerage submits to them detailing your contribution to your Roth IRA.
posted by zippy at 10:14 PM on March 12

Bingo on the first two commenters.

I asked my accountant for his best tax advice recently. "Never try to cheat the IRS," he said.
posted by jdroth at 10:39 PM on March 12