Level 1
This widget could not be displayed.

Retirement tax questions

I have an early distribution on my retirement account.  Funds were used to pay 2017 taxes to the irs for both 1040 and 941 quarterly.  Does that qualify for exception to penalty for early withdrawal.

Level 20
This widget could not be displayed.

Retirement tax questions

No.  Payment of back taxes owed is not an exception to the early withdrawal penalty.
See this IRS Tax Topic - <a rel="nofollow" target="_blank" href="https://www.irs.gov/taxtopics/tc558">https://www.irs.gov/taxtopics/tc558</a>
Level 1
This widget could not be displayed.

Retirement tax questions

Thanks for the quick response
Level 20
This widget could not be displayed.

Retirement tax questions

No it does not unless the IRS took the money in a levy.