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Level 1
June 1, 2019
Solved

What if I used the early withdrawal so I could pay my taxes for 2016?

  • June 1, 2019
  • 1 reply
  • 18 views
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Best answer by BobinCT

You still have to pay the early withdrawal penalty.  There is no exception for that (and you could have set up an installment payment plan with the IRS to avoid an immediate need for a hunk of cash.).

1 reply

BobinCTAnswer
Level 8
June 1, 2019

You still have to pay the early withdrawal penalty.  There is no exception for that (and you could have set up an installment payment plan with the IRS to avoid an immediate need for a hunk of cash.).