IRA rollver Hello everyone,
I transferred an IRA about 5 years ago from one account to another. This year I received a letter from the IRS stating I owe taxes and penalties for not completing it within the allotted 60 days. I don't fall under any exceptions that I know of.
Despite my best research, I have been unable to discover whether it was within the 60 day window; my best guess is that it was somewhere between 50-65 days. I told the IRS if I am outside the window I would pay the penalty but no one seems to know whether I accomplish my transfer within the window or not.
Should I fight this in tax court? Does the IRS have to prove that I was outside the window or do I have to prove that? It's been going on so long now I'd considering settling with them just to end this heartache. Is that something that they would likely do? Should I get a lawyer? |