Tag Archives: 10% early withdrawal penalty

IRS explaining 10% tax

Thinking about taking an early distribution from your 401(k), IRA, or other retirement plan? Typically, you’d face a costly 10% additional tax. However, thanks to the SECURE 2.0 Act, there are new exceptions that can help you avoid this penalty in difficult situations. On June 20, 2024, the IRS released Notice 2024-55, providing crucial details […]

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