Code · BILL · 113th Congress · H.R. 1 (Introduced in House) — To amend the Internal Revenue Code of 1986 to provide for comprehensive tax reform. · Sec. 1605

Sec. 1605. Repeal of exception to 10-percent penalty for first home purchases

87 words·~1 min read·/bill/113/hr/1/ih/section-1605

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 72(t)(2) is amended by striking subparagraph (F). Subparagraph

(A)of section 408A(d)(2) is amended by inserting or at the end of clause (ii), and by striking , or at the end of clause

(iii)and inserting a period, and by striking clause (iv). Section 72(t) is amended by striking paragraph (8). Section 408A(d), as amended by this Act, is amended by striking paragraph

(5)and by redesignating paragraph

(6)as paragraph (5). The amendments made by this section shall apply to distributions after December 31, 2014.