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Full Version: Avoiding excise tax on excess IRA contributions
BenefitsLink Message Boards > Retirement Plans > IRAs and Roth IRAs
k man
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
My understanding is that it applies to the tax only not the penalty as it refers to 408(d)(1)
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