http://blog.turbotax.intuit.com/2006/08/23/about-withholding-on-retirement-withdrawals/ It's all about the refund Thu, 13 Jun 2013 19:26:13 +0000 hourly 1 http://wordpress.com/ http://blog.turbotax.intuit.com/2006/08/23/about-withholding-on-retirement-withdrawals/#comment-48 Thu, 17 Feb 2011 20:47:13 +0000 http://host2256.pharos.intuit.com/wordpress/?p=126#comment-48 My question is when I retire in 2 years my wife and I will be living on Social Security in an estimated amount of $3,200.00 per month total. The tax rate on that income will be between 10 and 13%. Additionaly I will be taking a monthly payout from our 401K of $2000.00 per month. Will we pay with holding at a rate for a person earning $60,000.00 per year or will the IRS require a payment of 20% for each withdrawal to be withheld from the 401K even though I will not be in a 20% tax bracket?

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