Can I claim the 10% early withdrawal penalty I paid as a penalty deduction?
No you may not claim a penalty deduction. The 10% early withdrawal penalty isn’t deductible.
You can choose a person to research your IRS account for you. Learn more about IRS Form 8821, Tax Information Authorization, from the experts at H&R Block.
Did you receive IRS Letter 3500? Learn more about letter 3500 and how to handle it with help from the tax experts at H&R Block.
The discrepancy between your name and your Taxpayer Identification Number has been corrected. Learn more from the tax experts at H&R Block.
If you owe a balance to the IRS, you may have several tax debt relief options. Learn more from the tax experts at H&R Block.