Double Taxation
Double taxation still occurs within these tax-sheltered investment arrangements. For example, foreign dividends may be taxed at their point of origin, and the IRS does not recognize this tax as a creditable deduction. There is some controversy over whether this violates tax treaties, such as the Convention Between Canada and the United States of America With Respect to Taxes on Income and on Capital.
Read more about this topic: Individual Retirement Account
Famous quotes containing the words double and/or taxation:
“Women have acquired equal place to man in society, but the double standard has really never been relinquished; certainly not by men. Modern man’s fear of passivity or of the active woman proves to be as eternal as modern woman’s struggle to come to terms with her femininity.”
—Peter Blos (20th century)
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