I transferred my 401k to my new company. Since there were no penalties for a withdrawal when transferring, I took out money to pay off debt. When I did so, they estimated $20k in federal taxes so I paid them upfront. Ended up owing another $9k in federal taxes. That’s in addition to the $20k I gave them out of my paycheck. It’s outright robbery.
On today’s episode of things that will never happen.