Sentences with phrase «addition to ordinary income taxes»

Any withdrawals taken during the first two years of an employee's participation in the plan are subject to a 25 % tax penalty in addition to ordinary income taxes.

This is in addition to the ordinary income tax that you would pay outlined in bullet # 1 above.

If you withdraw money before age 59 1/2, you will pay a 10 percent penalty in addition to the ordinary income tax rate.

Withdrawals prior to age 59 1/2 may result in a 10 % penalty in addition to any ordinary income tax.

The Federal government imposes a 10 - percent penalty on withdrawals from 401 (k) s before age 59 1/2 in addition to ordinary income taxes.

If you withdraw money before this age, you will generally have to pay a 10 % IRS penalty tax in addition to ordinary income tax.

Thereafter, a 10 % penalty may apply for withdrawals prior to age 59 1/2, in addition to ordinary income taxes.

Early withdrawals, those taken prior to age 59 1/2, may be subject to a 10 % federal tax penalty in addition to ordinary income taxes.

Keep in mind that if you take withdrawals before you're 59 1/2, you may have to pay a 10 % tax penalty in addition to ordinary income taxes.

Early withdrawals, those taken prior to age 59 1/2, may be subject to a 10 % early withdrawal federal tax penalty in addition to ordinary income taxes.