S. 930 aims to amend the Internal Revenue Code to allow people who sell certain farmland to reinvest the profits into individual retirement plans without paying income tax on the gains. To qualify, the farmland must have been used for farming by the seller or leased to...
This bill lets people who sell certain farms put the money they make into their retirement savings without paying extra taxes, as long as the farmland was used for farming for many years.
H.R. 2748, known as the “First Time Homeowner Savings Plan Act,” proposes changes to the Internal Revenue Code to aid first-time homebuyers. It aims to increase the maximum amount that can be withdrawn from individual retirement plans without penalty from $10,000 to $25,000...
H.R. 2748 is a new rule that lets people take out more money from their retirement savings to buy their first house without having to pay extra fees, increasing the amount from $10,000 to $25,000 and will change a bit each year starting in 2027 to keep up with price changes.
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