MinhT
Expert Alumni

Retirement tax questions

If you have already filed, you'll need to amend your tax return. The IRS has no way to find out in the next few months that you did not make the contribution to the IRA. But they will find out next year or later if they match form 5498 that your bank or broker will file for tax year 2019. And then you'll have to pay back taxes, interest and penalties.

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