Re: Input CSA Form 1099 and Getting Charged a Early Redraw Penalty

Input CSA Form 1099 and Getting Charged a Early Redraw Penalty

I retired at 56 with a pension. I was eligible and it was NOT an early retirement. Why am I getting a penalty? I was told to fill out Form 5329 but do not understand. Is it a SIMPLE retirement?

posted

Normally an early retirement is any age before 59 1/2. Please view this IRS link for further details.

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Got 2 CP30s "charged a penalty for failing to pay est. taxes" 1 for me, 1 for wife, filing jointly, same $$. Do I pay both? What is "Reason for Payment" on DirectPay?

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