June 2, 2021, 7:08 pm
A federal appeals court ruled that three people who have deposited money into their retirement accounts through a foreign distribution company do not have to pay excise tax on the retirement account contributions.
The decision of a three-person jury of the U.S. Ninth District Appeals Court on Wednesday overturned a U.S. tax court ruling that found in 2018 that Angelo Mazzei, Mary Mazzei and Celia Mazzei owed excise taxes for exceeding contributions to their Roth personal retirement accounts. Ninth District Judge Daniel P. Collins wrote that it was not his court’s job to …
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