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from a qualified account before he or she is eligible to do so, the IRS imposes a 10% penalty on the amount withdrawn.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 English Renaissance roughly covers the 16th and early 17th Century (the European Renaissance had begun in Italy as early as the 14th Century), and is often referred to as the Elizabethan Era or the Age of Shakespeare after the most important monarch and most famous writer of the period.