I am looking to do an early withdrawal from my retirement. I would like to know how much taxes I would owe. As well as how I go about paying said taxes

[ColeenD3]

Penalty waived for early retirement withdrawal

If you need to take money out of your retirement plan ASAP, keep in mind that the 10 percent early withdrawal penalty will be waived on up to $100K of retirement funds withdrawn.

Additionally, income attributable to such distributions would be subject to tax over three years, and you may recontribute the funds to an eligible retirement plan within three years without regard to that year’s cap on contributions.

However, the funds will still be taxable at your own tax rate. You can create a fake return and enter the amount of income you expect to receive next year. You can make estimated payments to cover the additional tax or you can make sure you withhold enough at the time of disbursal.

@patricedonnellja