Credit Debt Relief: What's the 401k penalty if you have very low income and may not have a federal tax burden at all? Just the 10%?

2013年1月9日水曜日

What's the 401k penalty if you have very low income and may not have a federal tax burden at all? Just the 10%?

Question by wrda: What's the 401k penalty if you have very low income and may not have a federal tax burden at all? Just the 10%?
If the taxes and penalty are prohibitive to taking out 401k money, what if a person normally has no tax burden (EIT credit recipient)? We're only talking about $ 5k, for a one-time debt relief related to a divorce. If the penalty is only $ 500, it may be a useful option, where no other solution is available. Is there something I'm missing?

Best

Credit Debt Relief

2013年1月9日水曜日

What's the 401k penalty if you have very low income and may not have a federal tax burden at all? Just the 10%?

0 件のコメント:

コメントを投稿