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The 8915-E Form is projected to be e-fileable starting 02/26/2021. Please click on the following link and sign up for an email notification when the form is finalized.
Form 8915-E
If you are under age 59 1/2, the distribution from the retirement plans and IRAs is considered as an early withdrawal. Generally, you will pay both regular tax plus an additional 10% penalty of your entire distribution unless you met certain criteria. Due to the CARES Act, if your retirement distribution is related the Covid-19, you will not be liable for this additional penalty. You will still pay the normal taxes like your wages and income. For more information from the IRS, click here: Covid Relief. If your distribution is not related to the Covid, you will need to pay the penalty
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