IRAs are good ways to save money for retirement, but mistakes can be very costly. Did you contribute twice in 2016? Or did you forget to take your required minimum distribution (https://cpatardy.com/ira-distribution-drama/)? If you made one of these mistakes, then penalties can be up to 50% ( in the case of the missed required minimum distribution), but you may be able to get the penalties waived by correcting the errors quickly.
Your accountants are the best people to help you out with this, and if you’re looking for an Albuquerque CPA then consider us.