If an investor chooses to take a premature distribution from a qualified account before he or she is eligible to do so, the IRS imposes a 10% penalty on the amount withdrawn. The money is also taxed as ordinary income in the year the investor withdraws it.
Updated: 13 October 2016. Although it is best known for its cultural and artistic advancements, the Italian Renaissance was also a period of significant scientific progress too. We take a look at some of the eraâs most interesting inventions, from Leonardo da Vinciâs parachute to Galileoâs precursor to the modern thermometer.
The European Renaissance was a time of massive economic and cultural growth following the stagnation of the Middle Ages. Beginning in Italy in the 14th century, the movement spread to all parts of the continent during the next 300 years.lorence is the city where the Renaissance began, and where it reached its peak in the 15th and 16th centuries under the patronage of the powerful Medici family. Some of the greatest names in Renaissance art are associated with the city, including Leonardo da Vinci, Botticelli and Michelangelo.