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As a result of severe winter storms in Texas that began on February 11, 2021 the IRS has announced that affected taxpayers will receive tax relief.

This article addresses cases of when an individual is and is not required to file IRS Form 5329 with his/her tax return.

A form commonly used in conjunction with IRA activity is IRS Form 8606, Nondeductible IRAs. This article defines when it is necessary for an individual to file this form with his/her tax return.

This article will examine how to report the removal of an IRA excess contribution, and a recharacterization distribution, both of which from a reporting standpoint are dependent on the year the contribution was made vs. the year of distribution.