₪₪₪ I have a question regarding 401K plans and the penalties that come with them?
I cashed out on a 401K plan when I was let go from my job last year just so I would have some money to carry me over and help take care of my 2 kids. It was not alot of money, I actually received a check in the amount of $2,500.00 after the company get 20% for the IRS penalty. What I am trying to find out is if anyone knows the amount of penalty I will still have to pay when I do my taxes this year. I usually receive a decent amount back and I was wondering how much this penalty will hurt my refund. If anyone has any information that I can understand I would really appreciate it. Thanks
Category: IRS Problems
