No Penalties for Victims of Fraud Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 2163 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 2163 To amend the Internal Revenue Code of 1986 to waive early withdrawal penalties from retirement accounts for victims of fraud. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES March 14, 2025 Ms. Stevens introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 to waive early withdrawal penalties from retirement accounts for victims of fraud. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``No Penalties for Victims of Fraud Act''. SEC. 2. WAIVER OF EARLY WITHDRAWAL PENALTIES FOR VICTIMS OF FRAUD. (a) In General.--Section 72(t)(2) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: ``(N) Distributions from retirement plans in case of victim of fraud.-- ``…