401K deduction before 59 1/2 need tax table to calculate how much taxes I will pay
I am moving out of the country in the next couple of months and I want to cash out my 401K.
I have talked to the retirement plan service and they stated that they will take 20% of my funds. My question is, how can I calculate how much more I will need to pay the IRS when I file my taxes in 2009 for 2008? The retirement plan service said it would depend on the tax bracket I fall into. I have not been able to find a tax table specifically for the tax penalty of the 401K, can you help? Also, if I stop working in the US by March, won't I fall into a lower tax bracket because my income will be so much lower than previous years and I won't have to pay so much in taxes for the early with drawl of the 401K? Thank you for your time:confused: