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Apss251a Penalties  Form

Apss251a Penalties Form

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with that excess Roth contribution if you wait until past your tax filing extension deadline that October usually the 15th October 15th tax filing deadline that's the extension deadline if you wait until that point or after then you're left with the six percent penalty it's only six percent on the contribution the math usually works out or it doesn't make sense to do that where it does make sense to fix it before but in any case if you wait until after that deadline it's six percent just on the contribution so the math is a little bit simpler so a lot of people think oh I'll just do this because it's simpler but it's usually more expensive to do that now if you don't qualify for that following year for whatever reason because you over contributed your income whatever it's another six percent and that continues until it's all absorbed so let's say the following year that you did qualify to ma

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