Sentences with phrase «withhold funds equal»

The trustee will have to withhold funds equal to the amount of the tax.

Not exact matches

This means that the taxpayer must contribute additional funds in order to make up for the 20 percent that was withheld so that the rollover amount is equal to the total distribution.

If you want to defer taxes on the full amount you cashed out, you will have to add funds from another source equal to the 20 percent withheld by the plan administrator (you get the 20 percent back if you properly complete the rollover).

So, you'll need to find money to equal the withholding to fund the rollover within the required 60 days.