Is there any way to avoid penalty if money was stolen and supposed to be reinvested but he went to jail and waiting for trial?
0358626
3 Replies
ColeenD3
Expert Alumni
Mar 22, 2020 2:37:03 PM
What type of penalty? Retirement distribution? Late filing or late payment? There is no provision such as this for retirement, but you can always call the IRS and plead your case for the other ones.
cbritt8377
Level 1
Mar 25, 2020 5:42:45 PM
It was money I pulled from an IRA and it was supposed to be reinvested into an IRA but he is in jail waiting trial. Found out it was a Ponzy type scam.