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Elgin Illinois Form 5329: What You Should Know
Accounts (including IRAs) and other tax-favored accounts. Form 5329 is intended to alert the IRS to these types of situations. However, if you are aware of someone else's situation, please alert us first. We can't provide tax advice. . . Notifications from the IRS — Jedi Financial Here are instructions to help you send a tax withholding letter to the IRS if someone took a taxable distribution before they reached age 59-1/2 from a qualified retirement plan (unless they are reporting this tax directly to the IRS). In addition, notice letters may be sent if a qualified retirement plan is modified under section 401(k) or 403(b) that would result in a distribution to your IRA.
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