To discourage the use of IRAs for purposes other than retirement, the law imposes an additional 10% tax on early distributions from traditional and Roth IRAs unless an exception applies. Generally, early distributions are those you receive from an IRA before reaching age 59Â½. The additional 10% 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.
From Wikipedia, the free encyclopedia. Products are the species formed from chemical reactions. During a chemical reaction reactants are transformed into products after passing through a high energy transition state. This process results in the consumption of the reactants.
In economics and commerce, products belong to a broader category of goods. The economic meaning of product was first used by political economist Adam Smith. A related concept is that of a sub-product, a secondary but useful result of a production process. Dangerous products, particularly physical ones, that cause injuries to consumers or bystanders may be subject to product liability.