The conversion of an IRA to a Roth IRA could increase income enough to create a tax penalty situation. Will the government forgive penalties that are caused by the extra income due to a Roth IRA conversion in 1998? Are extra tax payments needed to cover the extra income? What if I decide to convert to a Roth IRA on December 31, 1998 and don't have enough time to send in my extra tax payment?
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