Early Withdrawal From Retirement Penalty – What Are the Exceptions?

mwalkerwade Posted in Income Tax, Personal Finance, tax services, Taxable IncomeTagged , , , Leave a Comment on Early Withdrawal From Retirement Penalty – What Are the Exceptions?

For the most part, any person who withdraws funds from his or her tax-deferred 401k or IRA account before reaching age 59 1/2 will end up paying 40% or more in income taxes and penalties.  You may ask the financial institution to withhold taxes, and they will do so, but only up to a certain […]