This article presents the exceptions to the 10% penalty on early withdrawal of retirement funds such as IRAs, SEP Plans, SIMPLE IRA plans, and employer-sponsored plans like the 401(k). Under IRS rules there are several exceptions which include the death of a participant/IRA owner, total and permanent disability, health care premiums, and medical expenses. 

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If you have questions about early withdrawal of your retirement funds, your CPA at Sharrard, McGee & Co., PA can help you review your options and make the best decision based on your personal situation. Call us at (336) 884-0410 in High Point or at (336) 272-9777 in Greensboro.