Can I claim the 10.00% early withdrawal penalty I paid as a penalty deduction?
No you may not claim a penalty deduction. The 10.00% early withdrawal penalty isn’t deductible.
How do you report an exception if you made an IRA withdrawal for education costs? Learn more and get tax answers at H&R Block.
Jailtime for tax evasion is a scary thought, but very few taxpayers actually go to prison. Learn more about tax evasion penalties with H&R Block.
Learn more about the IRS underpayment tax penalty from the tax experts at H&R Block.
As the year ends, take steps to prevent tax problems in the new year. Don't let IRS issues get the best of you - learn how to fight them at H&R Block.