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lluther123
Returning Member

401k withdrawal and refund date

Will a withdrawal from my 401k cause a delay in my refund ?  I had a 1099 R I had to add to my income. I am  62 though so the extra 10% penalty wouldn’t apply.

even though they took out .20% of federal tax and I don’t have to pay the extra 10% penalty would this be the reason my refund is delayed possibly?

I now have tax codes 570

and 971. This is the only thing I can this of for the delay and things codes. I thought maybe they had to verify whether I had to pay the extra percentage 

filed 1/15 and accepted 1/19

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3 Replies
JulieS
Expert Alumni

401k withdrawal and refund date

No, taking a 401(k) distribution isn't likely to cause the delay you are experiencing.

 

These two transcript codes mean the IRS has placed a temporary hold on your refund and they have mailed you a letter. When you get the letter, it will explain what is going on with your tax return. 

 

 

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lluther123
Returning Member

401k withdrawal and refund date

I have found that out but do you think the hold had something to do with this withdrawal ?  Maybe they had to verify if I should get the 20% penalty. That’s the only thing I can think of because I’ve looked it over and everything else is correct. 
I’ve also read other people having these same codes and said they had for the first time taken this same withdrawal and they thought that is what it was from too 

lluther123
Returning Member

401k withdrawal and refund date

Sorry. Didn’t see your first line saying probably not why 

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