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petitioners withdrew money from Ms. Warrington’s qualified
retirement plan prematurely and failed to fall within the
exception provided in section 72(t) and (m)(7).
For the foregoing reasons, we hold that petitioners are
liable for the 10-percent additional tax under section 72(t) on
the early distribution from Ms. Warrington’s qualified retirement
plan in 2004.
To reflect the foregoing,
Decision will be entered
for respondent.
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Last modified: November 10, 2007