L1: Changing codeOn my 1099 i got a code 1, I called National Financial Services and they said all 1099s come out with code 1, but said my CPA could change it to code 2 is this correct.
2011-03-29 20:10, By: Bagelmuncher, IP: [220.127.116.11]
L2: Changing codeNo. But your accountant (if he/she is filing your taxes)can file a form 5329 to claim the exemption.2011-03-29 20:17, By: Gfw, IP: [18.104.22.168]
L3: Changing codeWhich gets you to the same end result as if it had been coded with a 2 NO 10% PENALTY.2011-03-29 22:22, By: dlzallestaxes, IP: [22.214.171.124]