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What are the tax implications of changing jobs?
Contributed by: CoryF, FreeTaxUSA Agent, Tax Pro Congratulations on Your New Job! As you change jobs, understanding the tax implications will help you avoid some common tax mishaps. Make sure that you know how to handle the following tax items with your employer: Properly completing your W-4 Receiving tax forms Taking full…
What does the number or letter in Box 7 of my Form 1099-R mean?
Box 7 is the distribution code that identifies the type of distribution received. The following are the codes and their definitions: 1 - Early distribution, no known exception (in most cases under age 59 1/2) 2 - Early distribution, exception applies (under age 59 1/2) 3 - Disability 4 - Death 5 - Prohibited transaction 6…