Re: My client is filing prior Form 8606 that was not reported on prior year Form 1040 do I need to amend those return or I could just file Form 8606 itself.

qbteachmt · ‎03-30-2021

I would send in the Form 8606 and let the IRS notify the taxpayer of the penalty. Then you might be able to apply for waiver of that penalty.

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