QUESTION
If I cash out my 401K and have it sent in check to me can the child support take it from me or IRS take it and give it to the child support?
Asked on Mar 20th, 2020 on Child Support - Texas
More details to this question:
If I cash out my 401K and have it sent in check to me can the child support take it from me or IRS take it and give it to the child support? I owe $27000 on back up child support (she lied and said i never helped her) and i pay current child support.
1 ANSWER
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When you cash out your 401(k) taxes will be
withheld. Then when you file a tax return, if you are due a refund because you owe less than what was withheld, the child support office will intercept your tax refund and pay it to the obligee. I don't know if the OAG will intercept money before you receive it fro the administrator of the retirement account.
Answered on Apr 05th, 2020 at 5:06 PM