Can a person begin to receive the accumulated amount in an IRA account before reaching sixty (60) years of age?

A person may receive a disbursement from an IRA account at any moment. However, if done before reaching sixty (60) years of age and the distribution was for an qualified reason, as a general rule, that person is subject to a 10% penalty imposed by the tax code or 15% in case of having chosen prepayment of contributions, as required by the Code.  

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