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Home > Money & Services > Taxes   »   Consequences of not reporting 401K withdrawal

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Old Feb 12, 2008, 11:17 AM
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Old Feb 12, 2008, 11:35 AM   #2  
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First its not a good idea to piggyback your question on someone elses. This can lead to confusion. You should start a new thread. So I've moved your question to its own thread.

Second, the IRS WILL catch that you failed to report the withdrawal. They will then come after you for the unpaid taxes and penalties. If they find you willfully falsified your return there could be additional penalties.
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