A number of bits of the tax code reference 'age by end of year.' So the
child tax credit is lost if child turns 17 by year end, for example.
Is the IRA no-penalty withdrawal 'by year end' or can the withdrawal
only be taken after the date one turned 59-1/2? (And bummer for the
person whose birthday is June 30th when Dec 30 is on the weekend if the
latter is true.)
I refer you to IRS Publication 590, which you can find here:
which says on page 56:
You must include early distributions of taxable amounts from your traditional IRA in your gross income. Early distributions are also subject to an additional 10% tax, as discussed later.
Early distributions defined. Early distributions generally are amounts distributed from your traditional IRA account or annuity before you are age 5912, or amounts you receive when you cash in retirement bonds before you are
Age 59-1/2 Rule
Generally, if you are under age 59-1/2, you must pay a 10% additional tax on the distribution of any assets (money or other property) from your traditional IRA. Distributions before you are age 5912 are called early distributions. The 10% additional 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.