Most retirement plan distributions are subject to income tax and may be subject to an additional 10% penalty if you take a withdrawal before age 59½. Fortunately, there are some exceptions to avoid the penalty but there are strict rules. In one case (TC Memo 2023-9), a taxpayer lost his job and took a 401(k)
early withdrawal penalties Archives - Crawford Ellenbogen
Feb 7, 2023
Retirement plan early withdrawals: Make sure you meet the requirements to avoid a penalty
- By Joan Ellenbogen
- Retirement, Taxes
- 0 Comments
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