4 ms·
The CARES act waived penalties for up to $100k in withdraws from an eligable retirement account, and lets you pay off the taxes on that ratably over the next 3
by omgwtfbyobbq 7y ago
The CARES act waived penalties for up to $100k in withdraws from an eligable retirement account, and lets you pay off the taxes on that ratably over the next 3 years, assuming you don't contribute them back to the plan, which you can do at any time during those 3 years.
https://www.fedweek.com/issue-briefs/covid-19-stimulus-bill-retirement-plan-changes-qa/ https://www.fedweek.com/issue-briefs/covid-19-stimulus-bill-...