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 ...

In the current volatile economy, it may not be surprising if clients want to raid their retirement savings before age 59½. It’s never a good idea, experts say, but if it’s absolutely necessary, there ...

What Is an Early Withdrawal Penalty? An early withdrawal penalty is a financial penalty imposed on individuals who withdraw funds from certain types of accounts, such as retirement accounts or ...

Early withdrawals from a traditional IRA will result in a 10% penalty and taxes owed on the withdrawn amount.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 ...

Millions of Americans take billions of dollars in early distributions each year. Early distributions—those taken before age 59 ½—are subject to a 10% additional tax or early distribution penalty.

IRAs are tax-advantaged accounts that the government has strict rules for. Withdrawals made before age 59 1/2 typically have a 10% early withdrawal penalty. Explore all the possible strategies you can ...