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-   -   Cashing in 401k penalty (https://www.askmehelpdesk.com/showthread.php?t=5480)

  • Feb 8, 2004, 09:17 AM
    sunnydaize
    Cashing in 401k penalty
    In 2002 I cashed in a 401k and received about 14,000. I knew about the taxes but didn't know for sure I would receive a penalty because everything I read said I "may" and I figured they would let me know... anyway, I owed the IRS 1,800 and they put me on a pmt plan of $25 to federal IRS every month but the part I don't understand is I have to pay $50 every 45 days to the state of Oklahoma when the 401k was from a job I had in Indiana and I had only just moved to Oklahoma when I cashed it out... can anyone explain this to me? Thanks

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