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.
How long penalty abatement takes depends on the type of penalty relief you’re requesting. Learn more from the tax experts at H&R Block.
The IRS has disallowed one or more of the credits claimed on your tax return. Learn about your options to address IRS notice CP79 from the experts at H&R Block.
If you sold stock, bonds or other securities through a broker or had a barter exchange transaction, you will likely receive a Form 1099-B. Learn more from H&R Block.
The IRS thinks you may owe Alternative Minimum Tax (AMT). Learn more about IRS letter 2194 from the tax experts at H&R Block.