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What is the definition of Substantially Equal Periodic Payments?

  • Date: May 17th, 2019
  • By: Tracy
  • Categories: General Information
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Q. If the 10% penalty is $2,000, can your tax be lower than $2,000 if you had enough deductions?? 

  • Date: May 15th, 2019
  • By: Tracy
  • Categories: FAQs
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Q. How do I report a broken SEPP? 

  • Date: May 15th, 2019
  • By: Tracy
  • Categories: FAQs
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Q. What is the maximum interest rate that can be used? 

  • Date: May 15th, 2019
  • By: Tracy
  • Categories: FAQs
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Q. Does anyone know of any actual cases where someone accidentally broke their 72t and were caught by the IRS? What were the actual penalty percentages? Do they ever give someone a break and let them fix it if possible? Do they ever waive the penalties and interest? If someone was taking 72t withdrawals for 7 years and then switched to the MD method and calculated wrong and withdrew $100 too much would the IRS actually charge $100,000 if that was what the interest and penalties would come to? 

  • Date: May 15th, 2019
  • By: Tracy
  • Categories: FAQs
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