Tapping Your 401(k) Also Helps Uncle Sam Pay His Bills
The IRS collected more than $5 billion in 2011 from penalties incurred by taxpayers who withdrew money from tax-deferred retirement accounts before the age of 59 1/2. The people who pay the penalty include younger workers who switch jobs and don't bother to roll over their accounts and older workers who believe they have no place else to turn.
Published May 6, 2014
Sources: IRS, Fidelity Investments, Bloomberg research
GRAPHIC: RICHARD RUBIN & MARGARET COLLINS / BLOOMBERG NEWS, DAVE MERRILL / BLOOMBERG VISUAL DATA