Report Abuse. 1  Holy Moly Origin. 2  Holy Moly Meaning. 3  Mole pronounced moly is a type of sauce originating from Mexico.  It started in my young life in the 1940 s when we were interested in reading Captain Marvel Comics.
If you are over 59Â½, you may withdraw as much as you want so long as your Roth IRA has been open for at least 5 years. If you are under 59Â½, you may withdraw the exact amount of your Roth IRA contributions with no penalties. There are special exemptions for first-time home purchase and college expenses.
Withdrawing an Excess Contribution. If you have an excess IRA contribution in a given year, you will be assessed a tax penalty on the excess monies deposited. Thankfully, the IRS gives you a chance to correct the problem. As long as you withdraw the contribution prior to April 15, when you file your taxes, you will not be assessed the tax.