#tax penalty
10 stories
Dinosaur Auction Tax Puzzle
A Montana rancher's $6-9m dinosaur sale could trigger Social Security tax penalties without counting against his earnings test.
24/7 Wall St. · 1m
Suze Orman Warns Against 401(k) Loans for Credit Card Debt
Suze Orman says raiding your 401(k) to pay credit card debt risks a $44,000 tax penalty.
24/7 Wall St. · 1m
Owe IRS Money You Can't Pay? Filing Cuts Penalty From 5% to 0.5%
Filing a tax return when you can't pay slashes monthly penalties from 5% to 0.5%.
24/7 Wall St. · 1m
Financial Adviser Missed ESOP Diversification Limits
Financial adviser missed ESOP diversification limits, costing client $310,000 in taxes.
Kiplinger · 1m
529 Plans and Tax Debt Relief
Parents face tax penalties when withdrawing college savings for non-educational needs.
Slate Magazine · 2m
Miss RMD Penalty Waiver Process
IRS waives 25% penalty for missed RMDs with two-paragraph letter.
24/7 Wall St. · 1m
Inherited IRA Rules: 10-Year Clock and 25% Penalty
Inherited IRAs must be emptied within 10 years or face 25% tax penalty if missed.
24/7 Wall St. · 1m
Roth Conversion Rule Confusion
Retirees over 66 can access Roth conversions without penalty after five years.
24/7 Wall St. · 1m
Retirees Can Avoid 25% IRS Penalty With IRA RMD Aggregation
Retirees can pull all required minimum distributions from one IRA while leaving others untouched, avoiding costly IRS penalties.
24/7 Wall St. · 1m
Widow Keeps IRA in Husband's Name for Decade-Long Tax Deferral
Widow retains IRA in deceased husband's name to delay tax withdrawals until he'd turned 73, avoiding 10% early distribution penalty.
24/7 Wall St. · 1m