Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Taxes (https://www.askmehelpdesk.com/forumdisplay.php?f=320)
-   -   SS benefit and 401K for a green card (https://www.askmehelpdesk.com/showthread.php?t=439835)

  • Jan 27, 2010, 11:03 AM
    jmd51
    SS benefit and 401K for a green card
    I am 58, unemployed, planning to return back to France this year, after working 14 years in the US. It seems that when I'll be claiming SS benefits, they will be withholding 25.5% ( 30% of 85%) of it. Is there a way to file a return even if I am not a resident anymore?
    Similar question for my 401k which is still with my former employer. What is the best way to avoid unnecessary taxes possibly both sides of the ocean?
    Any guidance very much appreciated.
    JMD
  • Jan 28, 2010, 05:21 AM
    MukatA

    You can withdraw 401(k) money now and file your 2010 tax return. This year, if you are leaving soon, you may not have less U.S. income and will pay less tax on 401K income.
  • Feb 1, 2010, 08:03 AM
    jmd51
    Quote:

    Originally Posted by MukatA View Post
    You can withdraw 401(k) money now and file your 2010 tax return. This year, if you are leaving soon, you may not have less U.S. income and will pay less tax on 401K income.

    I should have let you know that there was around 270k on the 401k.
    Let me ask this: If I withdraw say 12k/year, (being in France) can I file a return every year with the IRS to get some of these 30% IRS is going to withhold back? What would be the procedure (or form)?
    Thanks for your answer.
    JMD

  • All times are GMT -7. The time now is 04:21 AM.