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Elder Law Alert: IRS Issues Guidance on Exceptions to Early Distribution Penalty from Retirement Plans
October 7, 2024
The Internal Revenue Service (IRS) recently issued guidance on two new exceptions to the tax on early distributions from certain eligible retirement plans. This guidance, outlined in Notice 2024-55 (IR 2024-170, 6/20/2024), addresses changes introduced by the SECURE 2.0 Act of 2022, which amended the rules under Code Sec. 72(t)(2). Early Distribution Penalty Under Code […]