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Withholding on Distributions from Nonqualified Plans


Guest amboyd

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Guest amboyd

How do you withhold income taxes on payments made

to the beneficiary of a non-qualified plan participant, when the payments are made monthly

over a period of several years?

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Guest EAKarno

As I recall, the payments are W2 income in the year of the participant's death subject to FICA and income tax withholding. Thereafter, it is 1099 income and withholding not required.

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