Retirement tax questions

If you are over age 75 then you will have to amend all those returns in order because each failure to take RMD has its own penalty associated which is  50 % of that RMD.

You may have a hard time getting the penalties waived because you failed to act in a timely fashion to correct the error.

Unless you can show reasonable cause, like you were in a coma for four years. 

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