IRA early withdrawal
 

I posted earlier about early withdrawal from a Roth IRA. But after reading thru the letter that I got when my old 401k got rolled over it was to a traditional IRA. Having said that, I found that I would have to pay income tax and a 10% early penalty fee. If Im in the 22% bracket
and thus I would owe 32% of what I would take out from my IRA? Is that how the tax and penalty would work?

https://www.irs.gov/newsroom/what-if...ey-from-my-ira

My question is how do I pay that percentage? Do I pay it right away when I withdraw the money? How would I pay that? Is it paid when I withdraw the money?

Sorry if I sound naive but I want to make sure that I dont get in trouble with the IRS.

Re: IRA early withdrawal
 

I wish I could help but maybe an accountant or forums like Reddit Finance maybe able to help more than here.

Re: IRA early withdrawal
 

In my experience.. when I withdrew from my 401k (might be the similar taxes to IRA account), the company that the account was under took the Taxes automatically and discounted from the total amount of my check