To extend the time period for making coronavirus-related distributions from retirement plans and to provide an exclusion from gross income of coronavirus-related distributions which are first-time homebuyer distributions.
First Time Homebuyer Pandemic Savings Act
This bill extends for one year the exemption from the penalty for early distributions from tax-preferred retirement plans for distributions related to COVID-19 (i.e., coronavirus disease 2019). It also excludes from gross income COVID-19-related distributions which are first-time homebuyer distributions up to $25,000 in a taxable year.
Introduced in House
Introduced in House
Referred to the Subcommittee on Social Security.
Referred to the House Committee on Ways and Means.
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