k man
Mar 12 2008, 04:31 PM
does 408(d)(5)(B) allow the taxpayer to avoid the excise tax on excess IRA contributions due to an error by a financial institution or just the tax due?
jevd
Mar 12 2008, 05:16 PM
My understanding is that it applies to the tax only not the penalty as it refers to 408(d)(1)