Contributing Articles

7 Costly IRA Withdrawal Mistakes to Avoid

Contributing Articles

Wednesday, September 01, 2021

Economic stimulus legislation enacted in 2020 offers a new opportunity for penalty-free IRA withdrawals—but taking advantage could be costly. And a 2019 law substantially altered IRA-withdrawal rules—but not for everyone, which seems certain to cause confusion.

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IRS provides expanded tax breaks for coronavirus-related distributions

Contributing Articles

Monday, June 22, 2020

The IRS released new guidance Friday on taking coronavirus-related distributions from retirement plans in IRS Notice 2020-50.

Coronavirus-related distributions were created under the CARES Act to help those in need withdraw funds penalty-free from their retirement savings.The CARES Act also allows CRD income to be spread over three years and CRDs to be repaid within three years.

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