CARES ACT IRA Withdrawal Rules – There are several factors to consider before withdrawing funds from your retirement plan if you need money now.
If you have been affected in some way by the COVID-19 pandemic, you may take a hardship IRA distribution, a penalty-free way to use $100,000 in IRA funds.
The CARES Act, short for the Coronavirus Aid, Relief, and Economic Security Act, provides over $2 trillion in relief for businesses and individuals, to battle the economic effects of COVID-19. In addition to cash relief for citizens and loan programs for small businesses, there are other supports for hospitals, medical providers, and industries. Also, IRA […]