- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
After you file
I've heard of cases going either way. Sometimes the IRS does not charge the penalty, sometimes they do. I wouldn't be surprised in this case if they charge the penalty, at least for tax years prior to 2014 (closed tax years), to cover the cost of reviewing your past Forms 5498 for confirmation that you made regular traditional IRA contributions and your past tax returns to see that you claimed no IRA deductions for these contributions.
‎June 6, 2019
9:45 AM