If you do not take the minimum distribution from any given portfolio, you generally will be charged a 50% excise tax on the amount not taken. For example, say that you under-draw your account by $5,000. The IRS may charge you up to $2,500 in taxes on that error. If you do make a mistake, in some situations the IRS can waive some tax penalties. This is most common if you voluntarily report and correct your mistake, and if it was good-faith error.When you withdraw this money, as always with a pre-tax portfoli ...