Elizabeth Ayoola
👤 SpeakerAppearances Over Time
Podcast Appearances
March versus April.
And guess what?
Apparently, my accountant didn't know that either.
Can you believe that?
Right?
And he's like, don't worry, we're going to fix it next year.
How?
Are you going to give me $2,000 back?
Exactly.
Exactly.
No, no.
No, absolutely not.
But luckily, I was able to waive the fee thanks to the first-time penalty abatement, aka the FTA.
Well, essentially it just lets qualifying taxpayers reverse the penalties for not filing a tax return or paying on time.
So since I was basically a first-time offender, the IRS said, okay, you've paid all your taxes on time.
This is your first time doing it.
We'll let you slide.
And I said a very hearty thank you.
Well, the IRA side of things, I am glad to tell the listener, won't be a big deal because with specifically a Roth IRA, that's funded with after-tax money.
So guess what?