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Debra Newby Watkins CPA

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Tag: Coronavirus Aid

Retirement Savings Rescue

Retirement Savings Rescue

As the COVID-19 pandemic continues, the IRS has developed procedures for individuals to take early distributions from their retirement plans under Section 2202 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136. The rules to qualify for these disbursements are fairly generous. For more details and to see if you qualify, read this article from The Tax Adviser. Early distributions from retirement plans related to COVID-19

Posted on April 28, 2021April 5, 2021Categories Federal Income Tax, RetirementTags CARES Act, Coronavirus Aid, early distributions, IRS, retirement account, Retirement plans, tax advice, The Tax AdviserLeave a comment on Retirement Savings Rescue
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