Currently, individuals who do not follow RMD rules face a penalty of 50% of the amount that should have been distributed, the lawmakers noted.
The company or any person required to make any filings with respect to such company files the subject report, schedule, or form required to be filed no later than 45 days after the original due date.
Securities and Exchange Commission v. Donald H. Hunter, Civil Action No. 3:20-cv-00391-RNC (D. Conn, filed March 24, 2020)
Holsopple, who the suit says falsely represented that he was not joining a direct competitor when he unexpectedly resigned and who was subsequently sent a cease-and-desist letter, did not respond to a request for comment.
The goal is to ensure that households and businesses are able to keep their heads above water until the health crisis can be contained, so that the economy is ready to rebound once the worst of the pandemic has passed.
To that end, Leader McConnell announced the formation of three republican task forces to examine major aspects of any economic relief legislation and draft a bill that can then be negotiated with Senate democrats and the House.