1) In need of extra cash, Mr. and Mrs. Miller decide to withdraw $10,000 each from their IRA's. They are 45 and 43 years old respectively. They are in a 32% marginal tax bracket. What will be the tax consequences (for both together including any penalties) of this withdrawal?

1b) What is the maximum contribution allowed by 2021 Federal Law for an individual age 25 for the following programs:401K, 403b, and Traditional IRA?