H.R. 867

Guardsmen & Reservists' Tax Fairness Act of 2007

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I

110th CONGRESS

1st Session

H. R. 867

IN THE HOUSE OF REPRESENTATIVES

February 7, 2007

Mr. Reynolds 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 make permanent the provision for penalty-free withdrawals from individual retirement plans for qualified reservist distributions.

1.

Short title

This Act may be cited as the Guardsmen & Reservists’ Tax Fairness Act of 2007.

2.

Penalty-free withdrawal for qualified reservist distributions made permanent

Clause (iv) of section 72(t)(2)(G) of the Internal Revenue Code of 1986 (relating to distributions from retirement plans to individuals called to active duty) is amended by striking , and before December 31, 2007.