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By Barry C Picker, CPA/PFS, CFP   Section 72(t) of the Internal Revenue Code provides that there is a 10% additional tax for early withdrawals from a retirement plan. That section also states the exceptions to this 10% tax. The Courts have consistently said that if you meet one of the exceptions, you don’t have […]

 by Barry C Picker, CPA/PFS, CFPWhen an individual who clearly has a losing argument on the taxability of his retirement plan distribution goes to Tax Court anyway, maybe it’s because he doesn’t fully understand the law.However, when he loses in Tax Court, appeals to the Court of Appeals and loses there, and then files an appeal […]

I came up with the term “inoculated” a number of years ago. The term arose in a situation where someone was telling me about this “great new tax scheme.” It was clear from the description of the scheme that it would never work, and in fact it didn’t, once the IRS got wind of it. However, when […]