Delete Please

[Critter-3]

That would not be the correct path to take however you can play IRS audit roulette if you want to. 

[Anonymous]

the thing in the tax laws is if that you are due a refund there's a time limit for filing to get it. the opposite isn't true, since you owe the IRS, it can come after you at any time. meanwhile, penalties and interest would continue to accumulate.  consult a tax pro. they can advise you as to what you are facing and can even inform you if they can write a letter to send with your returns to get some or all of the penalties abated (interest can't be abated).  many times the IRS will abate first time penalties. they can not force you to file amended returns.  you do need to take steps so this issue stops recurring. The longer it goes on the more likely the IRS is to catch it.   they have taken many steps in other areas to catch misreporting.    

[Opus 17 · Accepted solution]

This has already been discussed at the other conversation you started.

https://ttlc.intuit.com/community/tax-credits-deductions/discussion/re-the-last-5-years-i-have-maxed...

We can't give legal advice and we can't tell you whether the statute of limitations can be used to wipe out the penalty.  Basically, your penalty is based on the amount of disallowed contributions, or the amount remaining in the account at the end of the year.  If you only contribute what you need and zero the account every year, then you won't ever pay a penalty but you will never be able to use the account to accumulate wealth for retirement or future medical costs.  We can't tell you how long the IRS can come after you for the accumulated penalty if you start building wealth again.  You need professional advice. 

[elainestratos-ya]

Incorrect information was input please delete so i can start over again

[DoninGA]

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@elainestratos-ya wrote:

Incorrect information was input please delete so i can start over again

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Only you can delete the tax data in an online tax return.

If you have not paid for the online edition you are using, have not filed your tax return or registered the Free edition, then you can clear your return and start over. Click on Tax Tools on the left side of the program screen while working on the 2020 online tax return. Click on Clear & Start Over.