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from a qualified account before he or she is eligible to do so, the IRS imposes a 10% penalty on the amount withdrawn.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.
Italy has a sophisticated and fashionable appeal. Think Italy and our mind conjures up images of great artistic works of some of the most world-famous artists and few of the leading names in the fashion industry. Italy, therefore, boasts of many famous people, who have made their mark in different fields all over the world. Mentioned below are some famous ones. Michelangelo di Lodovico Buonarroti Simoni (6 March 1475 - 18 February 1564), born in present-day Tuscany, Italy, is one of the greatest sculptors of all time. Commonly known as Michelangelo, he is known for his artistic works, seen in the sculptures of PietÃ  and David.