Divide this text into sentences and correct mistakes: 1. All right, can you talk a little bit more about the 5498 and the reporting of RMD? 2. Yes, but that's on page 7. 3. Yeah, the fifth form of 98 is used for a couple of purposes: tracking IRA balances, contributions, and stuff. 4. Every year, the IRS has been making changes to it. 5. One of the questions I usually get from some clients is, "How is the IRS going to know what my RMB is? How are they going to do it if I haven't earned a shortfall?" 6. If you look at the new form 5498, it has a section to say if you have an RMB due this year, a section to say when your RMB is due, and a section that clearly states, "What is your RMB amount?" 7. Now, that I'm your 10, I'm you a 1099 Pienaar or any other show them so how much distributions you take, no? 8. The IRS does have a document matching system, so if the IRS looks at your form 5498 and it says your RMB is $10,000, but it looked at your turn onion ir and it says your partition is a thousand, then ding-ding-ding, something goes off, and the IRS is going to come to you and say, "What's going on? Explain yourself." 9. But you already told me or Mike told me a minute or two ago that sometimes we're making manual corrections to the 5498 at the amount that they give you. 10. Know that they list as of January 31st isn't correct, but the RMB would be more in that case. 11. And know you have a 1099 hours surely a lower RMB amount, which means there's even a bigger problem, right chef?...
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Rmd penalty waiver letter sample Form: What You Should Know
You will need to use the VCP or mail in Form 5329 to request a waiver.
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