How Can We Help?
< Back
You are here:
Print

Advice for CPA to file taxes for distribution coded as early without exception

Posted
Last Updated On
Byory

L1: Advice for CPA to file taxes for distribution coded as early without exceptionGreetings again fellow 72(t) community.
I had posted here about a year ago and got some great advice regarding my clients issue. The issue was resolved and the client was put at ease, but we are dealing with his CPA and his desire to file the clients taxes as early withdrawals, paying the 10% penalty because his 1099 is coded “early without exception” by the custodian. What I am asking is if anyone knows how to tell a CPA not familiar with the 72(t) idiosyncrasies how to file the taxes as if the return is a normal 72(t) distribution even though his 1099 indicates “early without exception”.
Thanks again.
2012-03-30 17:19, By: ory, IP: [205.168.180.182]

L2: Advice for CPA to file taxes for distribution coded as early without exceptionMerely complete and attached IRS Form 5329 to the 1040.
You can find a copy of the form and instructions athttp://72t.net/72t/Resources/Links or on the IRS website.2012-03-30 17:30, By: Gfw, IP: [205.178.73.77]

L3: Advice for CPA to file taxes for distribution coded as early without exceptionEither change accountants, or charge him for your teaching him how to do something he should already know about, and how to do.2012-03-30 19:27, By: dlzallestaxes, IP: [96.227.217.194]

L4: Advice for CPA to file taxes for distribution coded as early without exceptionI agree, time to get rid of the accountant. Thanks for the tips and advice. Until next time….2012-03-31 16:44, By: ory, IP: [205.168.180.182]

Table of Contents