Penalty tax

 

Home
Site Map
Add Term
Search
About Us
Contributors

Penalty tax

A federal tax that can be applied if a plan holder does not meet certain requirements when making withdrawals from a tax-advantaged retirement plan (for instance, if the plan holder has not reached age 59-1/2). This penalty tax is owed in addition to any income taxes due.



Penalty tax

Similar Matches

Marriage penalty

Marriage penalty

A tax that has the effect of penalizing a married couple because they pay more tax on a joint tax return than they would if they file tax returns individually.


Prepayment penalty

Prepayment penalty

A fee a borrower pays a lender when the borrower repays a loan before its scheduled time of maturity.


Prepayment penalty

Prepayment penalty

Lenders can impose a penalty on a borrower who pays a loan off before its expected end date.


Early withdrawal penalty

Early withdrawal penalty

A charge imposed on holders of fixed term investments in the event of withdrawal prior to maturity.


Overhanging redemption penalty

Overhanging redemption penalty

An early redemption charge that lasts beyond the benefit period is referred to as an extended or overhanging redemption penalty. These should be avoided where possible. 


Further Suggestions

Redemption penalty overhang
Early withdrawal penalty
Extended redemption penalty
Penalty clause


 
All rights Reserved. Do not copy without permission.