I received a check from my older employer with my Empower 401k contributions. It was under $1000 dollars. All it says on the letter is a tax form will be mailed to you by January 31st of next year and should be used in completing your tax return. The IRS already took money out of the check. On the statement, it says Internal Revenue Service Withholding is these the taxes taken out? I've never had this happen before. Can I cash the check or will I be penalized since I'm under 59 1/2?
