No matter what type of annuity you purchase, it is subject to a 10 percent IRS penalty for withdrawals of growth of income made prior to age 59 . No penalty is imposed on one’s principal, i.e. the money put in by the owner is the owners money. It makes no difference how old the … Read more
Article by Lance Wallach Did you get a letter from the IRS threatening to impose this fine? If you haven’t already, you still may. Consider yourself lucky if you have not because this means that you have more time to straighten this situation out. Do not wait for this letter to come from the IRS … Read more
Article by IRS Help There are many problems you can run into with the IRS. The following is an overview and helpful information on some of these confusing issues. · IRS Penalties· Unfiled Tax Returns· IRS Liens· IRS Audits· Payroll Tax Problems· IRS Levies· IRS Seizures· Wage Garnishments RS Penalties The penalizes millions of taxpayers … Read more