Withholding and Tax Payments
A client takes a distribution in January 2013 and requests 100% withholding. They pay quarterly taxes and their intention was that the 2013 distribution would be a payment for their 2012 taxes. Are you aware of anything in the code that would allow this?
By any chance would you have a contact at the IRS to whom we could pose this question?
Permalink Submitted by Alan - IRA critic on Mon, 2014-03-10 23:53
Not aware of this option existing. The distribution must show on a 1099R for the calendar year that distribution is distributed. If what you are asking could be done, there would have to be another 1099R issued for the prior year showing only the amount withheld and that does not seem to be an option.