How to Report an IRA or 401(k) CARES Act Distribution/Withdrawal
Not sure how to report an IRA or 401(k) CARES Act Distribution? IRA Financial Group explains which form you need to fill out and include when you file taxes.
CARES Act and Withdrawals
The CARES Act and withdrawals come into play when considering taking the $100,000 removal from an existing 401(k) account.
Reversing an RMD for 2020 Due to CARES Act
Guidance released by the IRS on June 23, 2020 will allow the reversing of an RMD for anyone that previously took one in 2020. The CARES Act waived all RMDs due for 2020.
401(k) to IRA Rollover Rules Under the CARES Act
You can perform a 401(k) to IRA rollover, however, under the spirit of the CARES Act, money distributed from a 401(k) should not be rolled to an IRA.
Borrow From a 401(k) – CARES ACT
On March 27, 2020, the President signed the $2 trillion stimulus package called the CARES Act – the Coronavirus Aid, Relief, and Economic Security Act. The primary purpose of the Act is that boosts unemployment insurance payouts and aims to send relief checks to many Americans. The CARES Act included many important retirement related provisions that […]
How the Solo 401(k) Plan Saved My Business During the COVID-19 Pandemic
The Solo 401(k) plan saved my business – learn how self-employed used their retirement savings to take advantage of CARES Act relief aid.
Retirement Plan Withdrawal vs. 401(k) Loan
Thanks to the CARES Act a retirement plan withdrawal is more accessible. In addition, a 401(k) loan option has also been impacted. Which is better for you?
CARES Act – What it Means for Retirement Savers
Thanks to the CARES Act, many Americans will see some relief during this pandemic. This includes easier access to use retirement funds if you are in need.
