If you take distributions from your IRA before age 59½, you will owe the IRS an additional 10% tax unless you qualify for an exception. One of the exceptions applies to distributions made under a substantially equal periodic payment program, or SEPP, also known as a 72

Denise Appleby is a freelance writer. The opinions expressed here are those of the author. Morningstar values ​​diversity of thought and publishes a wide range of viewpoints.