|
Posted by ed on September 10, 2007, 6:58 pm
Please log in for more thread options
kam...@panix.com (Arthur Kamlet) wrote:
>>> I seriously doubt the IRA custodian will withhold more than
>>> 25% as taxes, but 25% is better than none.
>> Thanks for the reply (which I read as affirmative, assuming
>> that the custodian will honor the withholding request).
>>
>> FWIW, my father used to have 100% of a petty pension
>> distribution withheld. More on point, Fidelity's IRA
>> withdrawal form instructs you to specify for fed withholding
>> a whole number percentage between 10 and 99. So it seems
>> they won't withhold the whole withdrawal, but they're
>> willing to come darn close.
>>
>> http://personal.fidelity.com/accounts/pdf/mrd2.pdf(Fidelity IRA Withdrawal
>> Request Instr. and Form)
> OK - if they will w/h 99% hen go for it.
>
> T`he IRS e-file standards (Pub 1345a) will not allow you to e-file
> when 50% or more of your gross Form 1099 distribution is withheld
> as taxes. Not a big deal, just a nasty surprise if you were
> hoping to e-file.
> <i>`he IRS e-file standards (Pub 1345a) will not allow you to e-file
> when 50% or more of your gross Form 1099 distribution is withheld
> as taxes. Not a big deal, just a nasty surprise if you were
> hoping to e-file.</i>
It would follow that anyone using this method to pay the
least amount of taxes in advance would delay paying the
remainder until April 15 and therefor probably not be
concerned that he was unable to e-file to hasten a refund
ed
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2007) - All rights reserved. >>
<< ------------------------------------------------------- >>
| 
Yahoo! 
Google 
Windows Live 
del.icio.us 
digg 
Netscape 
XML Sitemap