Level 20
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Retirement tax questions


@fanfare wrote:

I see no reason to file numerous forms.

Can you provide an authority that says that is allowed?

 

I would suggest that to properly comply with IRC  408(o)(4), numerous tax court decisions and the IRS rules that provide for a $50 penalty for each tax year that a 8606 was required but not filed, that separate 8606 forms be filed for each missed year with an explanation for the missed 8606 form an a request to waive the penalty.