Month: July 2015

Tax Court Rejects Taxpayer’s Attempt to Avoid Penalty on Early Withdrawal

As a general rule, when you withdraw money from your individual retirement account before age 59 1/2 you will have to pay a 10 percent early withdrawal penalty in addition to income tax on the amount withdrawn [IRC Sec. 72(t)(1)]. This means a $10,000 early withdrawal by a taxpayer in the 25 percent tax bracket …

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Do you know the signs of health care fraud ?

While there are many honest health care providers, there are some who found illegal ways to take advantage of the medical insurance systems. Some settings provide a better environment for them to commit their crime than others. For example, medical facilities that offer special care services, such as nursing homes and psychiatric hospitals provide the …

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