k man Posted March 12, 2008 Posted March 12, 2008 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 Posted March 12, 2008 Posted March 12, 2008 My understanding is that it applies to the tax only not the penalty as it refers to 408(d)(1) JEVD Making the complex understandable.
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