Greensboro, North Carolina
800 Green Valley Rd Suite 200
Greensboro, NC 27408
336-272-9777

Avoiding the Penalty for Early Distributions February 11, 2019

Avoiding the Penalty for Early Distributions, Greensboro, North Carolina

This article presents the exceptions to the 10% penalty on early withdrawal of retirement funds such as IRAs, SEP Plans, SIMPLE IRA plans, and employer-sponsored plans like the 401(k). Under IRS rules there are several exceptions which include the death of a participant/IRA owner, total and permanent disability, health care premiums, and medical expenses. 

https://www.sharrardmcgee.com/newsletter.php#3

If you have questions about early withdrawal of your retirement funds, your CPA at Sharrard, McGee & Co., PA can help you review your options and make the best decision based on your personal situation. Call us at (336) 884-0410 in High Point or at (336) 272-9777 in Greensboro. 

Other Announcements, Events and Deals from Sharrard, McGee & Co., PA
Identity Theft Less Common But Still on the IRS' "Dirty Dozen" List, Greensboro, North Carolina
It’s good news to learn that thanks to cybersecurity advances there has been a significant reduction in identity theft. However, the IRS warns taxpayers not to get complacent and inc...read more
Sharrard, McGee & Co., PA Greensboro Office Wins ACC Tournament Luncheon, Greensboro, North Carolina
Congratulations to our own SMC Greensboro office team for being nominated by Maggie Dunn and selected by the North Carolina Association of Certified Public Accountants (NCACPA) as a ...read more
This Tax Season's "Vishing" Scam , Greensboro, North Carolina
Every year the IRS publishes it’s “Dirty Dozen” list of the twelve most prevalent tax scams and provides details in a series of Tax Advisories. We share these warnings in our blogs, ...read more
Are Personal Injury Settlements Taxable?, Greensboro, North Carolina
Personal injury settlements tend to be sizable. Even minor injuries can cost thousands to treat, and once you take into account lost wages, the damages can quickly amount to tens of ...read more
IRS Introduces Annual "Dirty Dozen" Tax Scams, Greensboro, North Carolina
Every tax season the IRS identifies the most prevalent tax scams,  shares them with taxpayers as the “Dirty Dozen,” and describes them in a series of Tax Advisories. They introd...read more