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|Subject: Re: excess 401K contributions||Date: 2/23/1998 2:34 PM|
|Author: TMFPixy||Number: 1933 of 81985|
<<Thanks for the simple explanation. Why can't the people at the IRS speak English!!
I assume the returned money is now taxable income?>>
The IRS never keeps anything simple. If they did, they couldn't justify their existence. <g>
And yes, everything that was refunded to your hubby is taxable and will be reported to the IRS.
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