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IRA tax penalty: Original post by Cynthia Gomez of Demand Media Waiting until the age of 59 1/2 to withdraw from your IRA minimizes how much you must pay in taxes. http://photos2.demandstudios.com/DM-Resize/photos.demandstudios.com/getty/article/78/196/90308463.jpg?w=700&h=700&keep_ratio=1 Polka Dot RF/Polka Dot/Getty Images An individual retirement account (IRA) provides tax incentives for keeping your…

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