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Q. 401k excess

지역California 아이디d**yelee0**** 공감0
조회2,667 작성일4/1/2015 1:26:54 PM
As a follow-up of the below question,

1. Does it mean that even if I follow my employer's advice and do not amend my 2014 tax, there will be no discrepancy in terms of wages, 401k contribution, and etc. between my 2014 and 2015 taxes when 1099G is reported with 2015 tax?

2. Isn't 1099G a government payment? Is it a right form?
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답변일 4/1/2015 3:06:09 PM
Dahyelee,

I am a tax attorney and represent taxpayers from all 50-states in front of the IRS and State taxing authorities. 1099-G is not the correct form for your employer to use unless very specific circumstances exist.

Your employer may instead report on a Form 1099-MISC. However, it would benefit you to put the refunded money into a different tax-deferred vehicle such as a Traditional IRA for tax-year 2014.

If you would like assistance with accomplishing this, please let me know.
My website is http:firstlight-financial.com
Phone: (720) 282-5154
Fax: (720) 452-0613
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