House
Jan 26, 2023Expanding 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...
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