A bill to amend the Internal Revenue Code of 1986 to allow individuals to withdraw not more than $4,000 from their individual retirement accounts within a 2-year period for the purpose of obtaining job training or retraining, without incurring additional tax.
Job Training Amendments to the IRA - Amends the Internal Revenue Code to exempt from the ten percent additional tax on early distributions from qualified retirement plans the first $4,000 distributed within two years for use by the taxpayer solely to obtain job training or retraining. Requires that the distributions be made in reasonable anticipation of unemployment or within two years after the taxpayer becomes unemployed.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line