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from a qualified account before he or she is eligible to do so, the IRS imposes a 10% penalty on the amount withdrawn.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.
1. (Historical Terms) the Renaissance the period of European history marking the waning of the Middle Ages and the rise of the modern world: usually considered as beginning in Italy in the 14th century. 2. (Historical Terms). a. the spirit, culture, art, science, and thought of this period.. Renaissance. a. The humanistic revival of classical art, architecture, literature, and learning that originated in Italy in the 14th century and later spread throughout Europe.