Q: I owe back taxes to the IRS. Is there any way to transfer the money from my TSP balance back to the government? Most of the balance I have in my TSP account is the amount that was matching funds from the government. I just want to give it back to satisfy my tax debt and start all over again, and be square with the IRS. Can this be done? A: Not that I know of. You’ll have to either take a loan or a withdrawal and pay any taxes due before sending the money to the Treasury.