@sedgehammer wrote:
well that's not I wanted to hear ..... Since they took out over 14K in taxes whence they closed it, why does it still require another 9K in taxes?
The amount withheld is only an estimate. Your actual tax (plus 10% penalty for early withdrawal if you are under age 59-1/2) is only calculated on your tax return and takes into account all your income, deductions, and credits. You should get credit for the withholding you did pay, but if you are still short, you may owe more. Depending on the amount you withdrew, your tax could be 22% up to 36%, plus a 10% penalty if you are under age 59-1/2. Your backup withholding amount could have been as low as 10%, depending on what you requested from the plan trustee.
There are certain situation that exempt you from the 10% penalty for early withdrawal, they are listed on this page. (Be sure to look at the column for Qualified Plans, not IRAs.)
https://www.irs.gov/retirement-plans/plan-participant-employee/retirement-topics-tax-on-early-distri...
