Federal Tax Penalties. a. Twenty Percent (20%) Penalty. If you receive a distribution that is included in your gross income, you are subject to an additional tax of twenty percent (20%). This additional twenty percent (20%) tax will apply unless a distribution is made on account of (i) attainment of age sixty-five (65) (or, if different, the age specified under Section 1811 of the Social Security Act), (ii) death, or (iii) disability.
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Samples: Custodial Agreement, Custodial Agreement and Disclosure Statement, Custodial Agreement and Disclosure Statement
Federal Tax Penalties. a. Twenty Percent (20%) Penalty. If you receive a distribution that is included in your gross income, you are subject to an additional tax of twenty percent (20%). This additional twenty percent (20%) tax will apply unless a distribution is made on account of (i) attainment of age sixty-five (65) (or, if different, the age specified under Section 1811 of the Social Security Act), (ii) death, or (iii) disability.or
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Federal Tax Penalties. a. Twenty Ten Percent (2010%) Penalty. If you receive a distribution that is included in your gross income, you are subject to an additional tax of twenty ten percent (2010%). This additional twenty ten percent (2010%) tax will apply unless a distribution is made on account of (i) attainment of age sixty-five (65) (or, if different, the age specified under Section 1811 of the Social Security Act), (ii) death, or (iii) disability.
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