Government Take Over Of Your Retirement Accounts "Automicatic IRAs" government-mandated workplace retirement programs, Government Mandated retirement account ... ( read more )
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Retirement accounts, such as IRAs, 401Ks, 403Bs, and 457s, are a great way for individuals to save for retirement. But could the government ever take over these accounts? The short answer is no. Under current law, the government cannot take over your retirement accounts. In fact, the government actually protects your retirement accounts from creditors, so even if you declare bankruptcy, your retirement accounts are safe. That said, there are a few scenarios where the government could potentially gain access to your retirement accounts. For example, if you owe back taxes to the government, the IRS can s
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