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ltwotimes
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Is taking money out of an IRA early to pay last years taxes we owed the same as a levy?

 
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Is taking money out of an IRA early to pay last years taxes we owed the same as a levy?

No.   A levy would be when the IRS or some other entity takes the money from your retirement account for an outstanding bill. You voluntarily choosing to use IRA money to pay your taxes, is not a levy.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪

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1 Reply

Is taking money out of an IRA early to pay last years taxes we owed the same as a levy?

No.   A levy would be when the IRS or some other entity takes the money from your retirement account for an outstanding bill. You voluntarily choosing to use IRA money to pay your taxes, is not a levy.
♪♫•*¨*•.¸¸♥Lisa♥ ¸¸.•*¨*•♫♪
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