I am retiring July 15 this year. I will be receiving a lump sum payout of 9 months and will pay tax as I withdrawal each month. How do I figure my new tax liability?

Forum|Forum|2 months ago
May 14, 2026
1 reply
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How do I figure my new tax liability following my July 15 retirement from work?

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VolvoGirl

Level 15

What do you mean withdrawal each month? Are you getting the lump sum all at once? What are you going to withdraw each month? Will it be on your W2 or a 1099R or 1099Misc, etc?

fanfare

Level 15

If you get a lump sum the employer will probably withhold income tax so you won't have to make estimated payments. Ask your HR dept.

@Kirk6

I am retiring July 15 this year. I will be receiving a lump sum payout of 9 months and will pay tax as I withdrawal each month. How do I figure my new tax liability?

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