Monthly Archives: June 2024
![IRS explaining 10% tax](https://www.etax.com/blog/wp-content/uploads/2024/06/pexels-cottonbro-4861311-150x150.jpg)
The IRS has issued new guidance on June 20, 2024, regarding exceptions to the 10% additional tax for certain emergency distributions and distributions to domestic abuse victims, as outlined in Notice 2024-55. Background Under IRC Section 72(t)(1), distributions from qualified retirement plans are typically subject to a 10% additional tax unless they meet certain exceptions. […]
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