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IRS Form 5329: Reporting Taxes on Retirement Plans Source: finance.yahoo.com - Jul 9, 2019 When filing taxes, it’s important to make sure you’re reporting all of your income correctly. That includes making note of early distributions from qualified retirement plans or other tax-favored accounts that may be subject to a 10% early withdrawal penalty. Failing to report those distributions could result in a major tax headache if the IRS determines you owe additional taxes or penalties later. Category: General Business |