I retired in 2017. During 2017 I made a mistake on how I should have taken my IRA distributions and ended up taking a lump sum in January 2018. Then during the rest of 2018 I took monthly distributions. So in effect I took double IRA distribution income in 2018. My federal tax liability for 2018 is about $27,000, where it normally would have been closer to about $12,000.
You'll need to sign in or create an account to connect with an expert.
Below are the three conditions under which they might accept. The first is not applicable, since you do owe the tax. The second or third, you would have to prove.
Reasons for the OfferThe IRS may accept an OIC based on one of the following reasons:
Below are the three conditions under which they might accept. The first is not applicable, since you do owe the tax. The second or third, you would have to prove.
Reasons for the OfferThe IRS may accept an OIC based on one of the following reasons:
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
davidcotey
Level 1
shak0000
Level 1
moe152
New Member
frailey@dfwair.n
New Member
crgoodwin
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.