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from a qualified account before he or she is eligible to do so, the IRS imposes a 10% penalty on the amount withdrawn.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.
Lorenzo DE' Medici was the ruler of the Florentine Republic in the time of the Italian Renaissance. Known as Lorenzo the Magnificent Florentine s referred to him as Lorenzo thâ¦e Magnificent he was a patron of the arts and managed to keep a fragile peace going between competing Italian states.