Discussion Archives:Federal Tax Withheld S Corporate Annuity

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Discussion Forum Index --> Advanced Tax Questions --> Federal Tax Withheld S Corporate Annuity


Discussion Forum Index --> Tax Questions --> Federal Tax Withheld S Corporate Annuity

ICOUNT (talk|edits) said:

20 July 2011
An S corporation invested in an annuity. On the amount withdrawn Federal income tax was withheld on the 1099R issued to the corporation. I argued with the insurance co to no avail that tax should not have been withheld and they should refund it at their end. On the S corp return I included the amount on line 23a as estimated tax paid and stapled the 1099R to the return. The IRS billed for the withholding taken as a credit. ( The S corp owed tax due to the excess passive income tax) The client paid the IRS billing. How do we get this back? How do we stop having the insurance co withhold again this year. Do I file an amended 1120 S or a claim I think the form is 843?

Thanks for your reply

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