<prompt> Human: Dad passes way last year, and through his insurance, left me with a transferable IRA worth 72k. I took the lump sum for a variety of reasons. Pay off some debt, help relocate to a new city, I dont understand IRA account, he list goes on. Anyway, when you take the lump sum, the government takes 10 off the top. Now, as tax season approaches an end, Im wondering how taking the lump sum will affect me. Will it just be considered income as if it were from a paycheck or what? I work long hours and have yet to talk to a cpa. My main worry is having to shell out money when I file my taxes, when Im used to getting money back.A little info about me- 25 yrs old, a line cook, and I make a lil under 25k a year.  <response>: You need to see someone soon. Your going to have the amount of the IRA included in your income. The government got part of the tax already through the withholding, but someone needs to run the numbers. If you do owe, you have to pay by April 15th, or you start to accrue penalties and interest. 