COVID Tax Tip:
Qualified individuals affected by COVID-19 may be able to withdraw up to $100,000 from their eligible retirement plans, including IRAs, between January 1 and December 30, 2020. These coronavirus related distributions are not subject to the 10% additional tax that generally applies to distributions made before reaching age 59 1/2, but they are still subject to regular tax.
There are additional requirements to take advantage of this withdraw, please feel free to contact our office for more information.
We hope you’re staying safe and healthy!