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New Member
posted Jun 1, 2019 1:38:26 AM

I withdrew from my 401K last year to pay my IRS taxes. Can i reduce my penalty becasue of this?

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Level 3
Jun 1, 2019 1:38:28 AM

Unless the IRS had placed a levy on your assets you cannot reduce your IRA early withdrawal penalty to pay your taxes. Sorry. http://www.investopedia.com/articles/retirement/02/111202.asp

1 Replies
Level 3
Jun 1, 2019 1:38:28 AM

Unless the IRS had placed a levy on your assets you cannot reduce your IRA early withdrawal penalty to pay your taxes. Sorry. http://www.investopedia.com/articles/retirement/02/111202.asp