An additional tax of 10 percent is charged on premature withdrawals from a qualified retirement plan, SIMPLE plan or IRA. The additional tax is 10 percent of amounts withdrawn that are includible in gross income. The rules and exceptions are intricate enough that they donít need to be complicated by things like fraudulent withdrawals by a soon-to-be former spouse. But thatís what happened to Andrew Roberts, whose wife withdrew funds from his IRAs without his knowledge.
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