An early withdrawal normally is taking cash from a retirement plan before the taxpayer is 59 1/2 years old. If a taxpayer took an early withdrawal from a retirement plan last year, they must report it to the IRS. Additionally, the taxpayer may have to pay an additional 10% in taxes. If you need assistance with this and preparing your return, contact DTA at 877-DTA-6379 or [email protected]. #DTATips #accountant #taxes #irs #earlywithdrawal #penalty #earlywithdrawalpenalty #retirement #ira #401k #403b #401a #pensionplan
