IRS Clarifies COVID-19 Relief Measures for Retirement Savers
Monday, August 3rd, 2020
By David Schlossberg, Tax Plan for Wealth, Inc
The Coronavirus Aid, Relief, and Economic Security (CARES) Act passed in March 2020 ushered in several measures designed to help IRA and retirement plan account holders cope with financial fallout from the virus.
₁ Qualified beneficiaries may also treat a distribution as a CRD; however, nonspousal beneficiaries are not permitted to recontribute funds, as they would not otherwise be eligible for a rollover.
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