1. a usually chile plural chilÂ·es: a hot pepper of any of a group of cultivars (Capsicum annuum annuum group longum) noted for their pungency âcalled also chili pepper b usually chilli plural chillies also chilÂ·lis chiefly British: a pepper whether hot or sweet. 2.a: a thick sauce of meat and chiles. usually chile plural chilÂ·es: a hot pepper of any of a group of cultivars (Capsicum annuum annuum group longum) noted for their pungency âcalled also chili pepper b usually chilli plural chillies also chilÂ·lis chiefly British: a pepper whether hot or sweet. 2.
The primary benefit of a traditional IRA is that in most cases, the contributions are made on a pre-tax basis. This means that when you deposit money into the IRA, you can deduct that amount from your taxable income. This results in paying less income tax for the year.
Generally, early distributions are those you receive from an IRA before reaching age 59Â½. The 10% additional tax applies to the part of the distribution that you have to include in gross income. It is in addition to any regular income tax on that amount. Distributions that you roll over or transfer to another IRA or qualified retirement plan are not subject to this 10% additional tax. For more information on rollovers, refer to Topic 413. There are exceptions to this 10% additional tax for early distributions that are: