2015 and 2016 had never been filed. Dr. Lee had moved to a new office and asked his CPA to update the IRS with his new address and this was never done, so he never got any of the mail the IRS sent.
Repayments must be made at least quarterly on the loan. According to IRS rules, a loan must be repaid within five years, unless it’s a loan to buy a principal residence. And if you don’t repay the loan? It’s treated like an early distribution, with all the taxes and penalties th...