or one reason or another, you may need to take some money out of an IRA before reaching retirement. You can withdraw money from an IRA at any time and for any reason, but it's important to keep in mind that most IRA withdrawals are at least partially taxable. In other words, you'll owe regular income tax on the amount. In addition, the taxable portion of a withdrawal taken before age 59 1/2, which is called an "early withdrawal," will be hit with a 10% penalty — unless you qualify for an exception.
You know you're operating a reputable business, but is that the impression your sales force is leaving with potential customers? Or is your sales team willing to say whatever it takes to seal the deal? In today's cutthroat business climate, it's easy to lose sight of what constitutes an ethical sales program. To preserve your company's good name, don't overlook your sales force when building an ethical business culture.
The IRS Whistleblower Office is celebrating its 10-year anniversary this year. The office was created under the Tax Relief and Health Care Act of 2006 to oversee the IRS whistleblower program, which is a critical part of overall enforcement and compliance.