Research Report Penalties on IRAs and 401(k)s
Peter Orszag
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The leading policy goal for 401(k)-type plans and Individual Retirement Accounts is to help families accumulate wealth for retirement. Given this objective, policy-makers have created tax penalties for either withdrawing funds too quickly or too slowly. This Tax Fact explores these tax penalties, and shows that the share of all returns with a penalty has risen steadily over the past decade.
Research Areas Taxes and budgets
Tags Individual taxes Federal budget and economy