If you take cash distribution from former spouse retirement plan do you have to pay penalty Code section I am under age?

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Many, many things to consider that make a difference: How did you come by it - Ex by divorce or death? What type of plan is it? One distribution or distributions to continue over your expected life? Does the plan even allow it? (And if so, you should consider if the plan effectively seriously penalizes you for doing so). What were his contributions to the plan? Is there any qualifying hardship or use for the funds? Many more.
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If you stop working for a company that has a retirement plan can you take cash instead of waiting till you get a certain age?

Answer . Possibly, but you might want to consult a tax attorney before you transfer any funds.. Answer . Usually, but of course it may depend on company policy and ther

What age is the earliest you can retire and not pay any tax penalties?

59 1/2, or in certain cases 55. Ans . You can retire at any age if you have the mans. . You cannot start drawing social security or withdraw from from qualified retirement

What is the penalty for under-age gambling?

The law varies by state. In NJ if an underage individual is caughtgambling they will be fined anywhere from $500 to $1000 and theirdriver's license will be suspended for six m

How long does a former spouse have to collect his personal property in equitable distribution at the residence of the former spouse?

YOu need to check with your attorney. The time may be mentioned in the separation agreement of it may be governed by state law. YOu need to check with your attorney. The time

Do ihave to pay my spouses retirement taxes?

Whenever you are married and file taxes as Married Filing Joint,your taxes and your spouses taxes are one in the same. This meansthat any taxes owed on your return are the res