Response to the following Internet Problem:
Researching the Instructions to Form 5329
Normally a 10% penalty is assessed when employees and self-employed taxpayers take distributions from a retirement plan before reaching age 59½. However, exceptions do exist. Describe the various circumstances under which individuals can take early distributions from the various retirement plans and not have to pay the 10% penalty. Go to the IRS website.
Locate the Instructions for Form 5329, and find the answer to the above question regarding exceptions to the 10% penalty.