How much tax is due on a early pension distribution? Dear Taxguru,
I had to make a withdrawal from my pension plan. Unfortunately, due to cashflow problems i could not repay the loan in a timely manner.
First question, how much is my projected liability on $25,000 premature pension distribution if I am in the 20% tax bracket?
Second question, is there are any way to legally AVOID this tax liability?
Thanks for your reply. |