Fixing the value of an investment held within an IRA skirts the limits set by congress. It is past time for an audit of ALL tax returns in which taxes are evaded by fraudulent valuations, in the manner that Bain has done.
Why is this important?
Quite simply $100,000,000 in an IRA is an extremely large accrual. The WSJ reported that contributions were made at a value set by Bain and of course Mitt is Bain. Fraudulent valuations skirt the limits set by congress. It is normal for the IRS and Massachusetts Department of Revenue to audit the taxes of those with suspiciously large entries in their filings. It is time for an audit.
