Qualified
How to Handle Early Distributions: Qualified Plans, Non-Qualified Plans, and IRAs (Part 2)
General Penalty Waivers There are expenses and circumstances that can waive the 10% early withdrawal penalty on a distribution regardless of what plan type the taxpayer has: Plan asset rollovers (not conversions) Qualified higher education expenses Being age 59 ½ at the time of distribution Deductible...
How to Handle Early Distributions: Qualified Plans, Non-Qualified Plans, and IRAs (Part 1)
Early Distributions Have Increased In the austere economic climate the US has experienced in the past decade, early distributions from retirement plans have become a more frequent occurrence as our clients struggle with protracted unemployment and underemployment. Some dismal statistics embody this pathos. Americans...