Early retirement distributions are an IRS red flag. The agency wants to make sure that individuals are properly reporting distributions from IRAs and qualified employer plans, such as 401(k)s, that ...

Withdrawing your 401(k) early may offer a way out of a tricky financial situation, but early withdrawals generally come with consequences too. If you withdraw money from your 401(k) before you reach ...

Early withdrawals are generally subject to a 10% penalty, in addition to normal income taxes. But there are lots of exceptions—including some new ones. Here’s the latest. One source Americans consider ...

The tax savings opportunities for IRA plans and 401K plans are well known. Not only does the taxpayer receive a deduction for the retirement contribution from their taxable income, but the retirement ...

Early withdrawals from a traditional IRA will result in a 10% penalty and taxes owed on the withdrawn amount. You can withdraw contributions, but not earnings, from a Roth IRA at any time without ...

Once you establish a retirement account, such as an IRA or 401(k), you want to maintain your balances and obtain tax-free growth for as long as possible. When unplanned expenses arise, you don’t want ...

If you withdraw funds from your SIMPLE IRA before reaching the age of 59 1/2, you will incur an extra tax of 10 percent on the taxable amount unless you meet the criteria for an exemption. In certain ...

Internal Revenue Code Section 72(t)(1) imposes a 10% additional tax on most distributions from retirement plans and individual retirement accounts before age 59 1/2. However, there are various ...