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Guide to the Early Distribution Penalty Exceptions for Distributions from Retirement Accounts Webinar

CPE

When
Sept. 18
1:00 - 3:00 p.m.

CPE Credits
2-Tax

Details

 Pricing

PICPA Member: $89 | Nonmember: $114


 More Information

Course No.
IRA6-2019-01-WEBNR-261-01
Level
Intermediate
Prerequisites
A basic understanding of individual income tax
Note
This webinar is hosted by PICPA's partner, Surgent CPE. After registering, you will receive an email from Surgent CPE with the log-in information.

Description

Distributions from retirement accounts that occur before the account owner reaches age 59½ are subject to a 10% additional tax, unless an exception applies. Eligibility for any of these exceptions is determined by several factors, including the type of account from which the distribution is made. Making a wrong move can result in a retirement account owner losing eligibility for an exception. In some cases, exceptions can only be claimed through proper reporting on the individual's tax return.

Highlights

  • Identify distributions that might be subject to the 10% early distribution penalty
  • Ensure that clients who qualified for the exceptions do not pay the 10% early distribution penalty because of conflicting tax reporting by IRA custodians and plan trustees
  • Understand the tax reporting requirements that apply to early distributions
  • Determine suitability for the substantially equal periodic payment program


Speaker(s)


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