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IRA Withdrawls that Escape the 10% Tax Penalty

IRA Withdrawls that Escape the 10% Tax Penalty

by oakcrestuser | Mar 21, 2023 | Personal Finance, Tax Planning

The reason withdrawals from a Traditional Individual Retirement Account (IRA) prior to age 59½ are generally subject to a 10% tax penalty is that policymakers wanted to create a disincentive to use these savings for anything other than retirement.1 Yet, policymakers...

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