EFFIONG CPA PLLC
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02/22/2021
IRAs and coronavirus-related distributions and repayments
The CARES Act includes a provision allowing an eligible individual to take a coronavirus-related distribution(s) from certain retirement plans (including IRAs) through December 30, 2020. In addition to favorable tax treatment on the distribution, the law allows amounts to be repaid to certain retirement plans within three years after having taken the distribution(s). This article has been updated as a result of the IRS’s release of Notice 2020-50 on June 19, 2020.
IRAs and coronavirus-related distributions and repayments The CARES Act includes a provision allowing an eligible individual to take a coronavirus-related distribution(s) from certain retirement plans (including IRAs) through December 30, 2020.
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10 N Broadway
Edmond, OK
73034
Opening Hours
| Monday | 9am - 5pm |
