"back taxes on that money and on the taxes it saved us when we itemized"
If an excess remained past the due date of your tax return, you would not have any itemized deduction savings to back out. IRA contribution does not impact your itemizing.
You only pay a 6% penalty per year on the accumulating excess. And, any earnings in your IRA stays there.
You can't get a tax saving from IRA contribution unless you had income.
You should discuss this with your CPA.
@munoz124
