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Does the 401(k) Early Withdrawal Penalty Fall Off After 10 Years?

EPISODE · May 23, 2024 · 7 MIN

Does the 401(k) Early Withdrawal Penalty Fall Off After 10 Years?

from Tax Relief with Logan Allec, CPA · host Logan Allec

You made the decision over to take money out of your 401(k) early and got hit with the 10% additional tax (A.K.A. "the 401(k) early withdrawal penalty") on Form 5329. Does this penalty fall off after 10 years just like other tax debt? I get into it in this episode!Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/Mentioned Video Link:-IRS Statute of Limitations on Collections Explained in Full by a CPA: • IRS Statute of Limitations on Collect...

What this episode covers

You made the decision over to take money out of your 401(k) early and got hit with the 10% additional tax (A.K.A. "the 401(k) early withdrawal penalty") on Form 5329. Does this penalty fall off after 10 years just like other tax debt? I get into it in this episode! Do you have tax debt? Call us at 866-8000-TAX or fill out the form at https://choicetaxrelief.com/ Mentioned Video Link: -IRS Statute of Limitations on Collections Explained in Full by a CPA: • IRS Statute of Limitat...

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Does the 401(k) Early Withdrawal Penalty Fall Off After 10 Years?

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Frequently Asked Questions

How long is this episode of Tax Relief with Logan Allec, CPA?

This episode is 7 minutes long.

When was this Tax Relief with Logan Allec, CPA episode published?

This episode was published on May 23, 2024.

What is this episode about?

You made the decision over to take money out of your 401(k) early and got hit with the 10% additional tax (A.K.A. "the 401(k) early withdrawal penalty") on Form 5329. Does this penalty fall off after 10 years just like other tax debt? I get into it...

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