Ed Slott: IRS' Cure for Conflicts Could 'Wipe Out' IRAs

What You Need To Know

• The takeaway for advisors from a new GAO report, according to Slott: More regulation is likely on the way.
• The CPA sees the report as yet another futile effort by regulators to protect consumers from bad actors.
• The enforcement mechanism against prohibited transactions is excise taxes, which can hurt clients, Slott says.