Apr 4, 2011, 01:05 AM
I was laid off last year and only got paid for one month. I had to withdraw my 401K funds to get over the loss of income and to keep paying my home loan. Now, while doing my taxes, I ma being charged a 20% penalty (besides the 10% that I already paid while withdrawing). Also, my tax refund is much lower than I expected probably due to this. How can I avoid losing money like this and get a better refund?