Tax Season Jeopardy

1099R

100

This many 1099R's would be generated if a ppt took out two loans the previous year.

0

200

This institution issues tax forms for all participants in a Puerto Rico Plan regardless of their address.

Banco Popular

300

1099R's will be posted to the PWEB on this date

February 3rd

400

The PPT's SSN will be listed under this box name on a 1099r

Recipients TIN

500

Distributions under this amount will not generate a 1099R

$10

Distribution Codes

100

This distribution code usually indicates that they have done a pre-tax rollover for the previous year.

Code G

200

When a loan has defaulted the ppt will see this code on their 1099R

Code L

300

This code would most likely apply to a ppt that made a taxable distribution under the age 59.5

Code 1

400

Code H would be listed on a 1099r for this kind of transaction.

A rollover of roth money.

500

Excess Contributions taxable would be listed as this code on the 1099R

Code 8 or Code P 

Tax Corrections

100

This task type is used to have a 1099r corrected. 

TAXINFO

200

This task type is to request a duplicate 1099r

TAXINFODUP

300

This is the timeframe it takes for a tax form to be corrected on a research request task.

3-5 business days

400

Tax Corrections Research Requests cannot be put in until after this date. 

February 14th

500

Instead of 1099rs, PR plans generate this tax form.

480.7Cs

Random Tax Trivia

100

This form is the most common IRS tax form and is used for personal federal income tax returns filed by United States residents.

Form 1040

200

This famous protest, which was due to high taxes on tea, ended up with protestors dumping tea into this location.

Boston Harbor

300

This is the most heavily taxed product in the United States

Tobacco

400

This state has the highest state income tax in the country

California

500

This President signed the Revenue Act in 1861, which imposed the first-ever federal income tax.

Abraham Lincoln