Now easier to qualify for a penalty-free retirement distribution
The CARES Act provided taxpayers with the option to take penalty-free coronavirus-related withdrawals of retirement funds of up to $100,000 in the aggregate between January 1, 2020, and before December 31, 2020 (meaning the distribution must be taken by 12/30/2020 to qualify). To qualify for the penalty relief, taxpayers must have a COVID-related reason for […]