Guest 401kguy Posted November 18, 2014 Share Posted November 18, 2014 A retired taxpayer has both a 403B and an IRA. For several years she has been combining the values of the two accounts for the purposes of the RMD and distributing from the IRA only. The law states that RMDs must come from each of the accounts. But, in reality the tax effect is the same as if she had followed the law. Any advice on how to approach this situation with the IRS to confess and ask for forgiveness? The potential tax liability (50%) is about $127,000 not including penalties and interest. Thank you. Link to comment Share on other sites More sharing options...
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