GM 3Daddy asked:


I am aware of the 10% penalty and the need to pay applicable federal and state income tax on the distribution, but I’m wondering about Medicare and Social Security taxes. Thanks.

MYLES

vandana r asked:


How long it takes to get refund of Social Security & Medicare tax witheld in error? Someone told me that it takes 1 year to get it refunded. I don’t think so.

DOWDY

numberforty1 asked:


By which I mean - they take a certain percentage out of your check and there’s no negotiating it at the end of the year as with state and fed tax. Whats the ideology behind making the rich and the poor all pay this same percent tax? (Its 6.2% for SS and 1.4% for Medicare)

ABEL