House
Jan 26, 2023

Expanding Penalty Free Withdrawal Act

Summary

Official

Expanding Penalty Free Withdrawal Act This bill expands the exceptions in the Internal Revenue Code that permit penalty-free distributions to unemployed individuals from retirement plans. The 10% additional tax on early distributions from retirement plans does not apply to an individual after separation from employment if (1) the individual has received federal or state...

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Bill Progress

Bill has been introduced and assigned a number

Introduced(1/26/23)
Committee
Passed House
Passed Senate
President
Law

Sponsor

BW

Mrs. Watson Coleman

House (D) New Jersey – 12

Cosponsors (1)

Latest Action

Referred to the House Committee on Ways and Means.

Jan 26, 2023