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from a qualified account before he or she is eligible to do so, the IRS imposes a 10% penalty on the amount withdrawn.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.
Three great mastersâLeonardo da Vinci, Michelangelo and Raphaelâdominated the period known as the High Renaissance, which lasted roughly from the early 1490s until the sack of Rome by the troops of the Holy Roman Emperor Charles V of Spain in 1527.