Technical topics regarding tax preparation.
3-Oct-2022 11:41am
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Taxpayer did not take RMD for 2021.
I know that form 5329 should be filed. I want to efile it with the return. How do I ask for a penalty waiver? Can I attach a request letter as a pdf to the efiled return and instruct the taxpayer not to pay and wait to hear from the IRS? Or is mailing the penalty waive letter required?
I hesitate to mail anything to the IRS now that can be efiled.
3-Oct-2022 11:49am
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Your software should have a place in the 5329 section to ask for the waiver. See Part IX of the Form 5329.
3-Oct-2022 2:45pm
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sjrcpa wrote:Your software should have a place in the 5329 section to ask for the waiver. See Part IX of the Form 5329.
Found it. Thank you!
4-Oct-2022 7:26am
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Have you all run into situations where the IRS has assessed the penalty for missed RMDs even though a waiver request was submitted on 5329? Or do they typically waive?
4-Oct-2022 7:37am
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I have never seen any correspondence form the IRS on this topic. I suspect I am not alone.
4-Oct-2022 8:19am
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I have never had a penalty waiver denied in this situation.
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