IRA

1 of 2

noun

ˌī-(ˌ)är-ˈā  ˈī-rə 

plural IRAs

: a retirement savings account in which income taxes on certain deposits and on all gains are deferred until withdrawals are made

IRA

2 of 2

abbreviation

Irish Republican Army

Examples of IRA in a Sentence

Abbreviation

a representative of the IRA

Recent Examples on the Web

Noun

The Biden administration allocated much of that IRA money for clean energy and grid technologies and for mineral supply chains, according to a tracker put together by EDF and Columbia University's Sabin Center. —Nick Sobczyk, Axios, 29 Jan. 2025

Issued during the first week of his second term, the orders aim to deregulate fossil fuel production, streamline permitting and roll back key provisions of the Inflation Reduction Act (IRA), spurring intense debate. —Jonathan Granoff, Newsweek, 29 Jan. 2025

Monday’s executive order likely freezes those funds, since the IRA is widely considered by Republicans part of the Green New Deal referenced in the memo. —Andrew McKean, Outdoor Life, 29 Jan. 2025

Started receiving Social Security or inherited IRA payments? —Jeanne Sahadi, CNN, 27 Jan. 2025

Word History

Etymology

Noun

initialism from individual retirement account or individual retirement arrangement

First Known Use

Noun

1974, in the meaning defined above

Legal Definition

IRA

noun

ˌī-ˌär-ˈā, ˈī-rə 

: an account in which a person may deposit up to a stipulated amount each year and that is not taxable until retirement or early withdrawal

Note: Deposits to an IRA may not be completely or partially deductible from adjusted gross income if one's income exceeds a set level.

Etymology

Noun

individual retirement account