If a Taxpayer Receives an Early Distribution from a Qualified

question 37

True/False

If a taxpayer receives an early distribution from a qualified retirement plan, a 10% additional tax is levied on the full amount of any distribution includible in gross income.

---

Definitions:

Larceny

The unlawful taking and carrying away of personal property of another with the intent to permanently deprive the owner of its possession.

Embezzlement

The fraudulent appropriation of funds or property entrusted to one's care but owned by someone else.

Permanently

Describing a condition or state that is intended to last indefinitely or for a lifelong duration.

Presumed Guilt

The principle or state of assuming an individual is guilty without evidence or before the completion of a fair and just legal process.