Husband took an early retirement buyout last year with a bonus. But we messed up on the taxes and we ended up owing the Feds quite a bit.
We are getting hit with penalties/interest out the wazoo! Would it be possible to take the money we owe from our retirement fund and just pay the Feds off. I feel like if we don't get it paid off, it just going to keep growing. I know we will get hit will penalties for taking the money from the retirement fund, but I feel like it would be better than the interest/penalties we're being hit with from the taxes we owe.
Can someone please advise on this. Thank you.