Income taxes

Taxes levied by governments on the income of individuals and businesses that provide a key source of revenue for government operations. In 1913, the 16th Amendment to the U.S. Constitution made the income tax permanent in 1913, and in 1943, withholding income taxes from wages began.

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Does Unemployment Qualify as a Hardship 401k Withdrawal?

Probably not. The IRS takes a fairly unforgiving stance on withdrawals from a traditional IRA for people under age 59 1/2.