IRS Issues FAQs On COVID-19-Related IRA And 401(K) Loans & Distributions
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The Internal Revenue Service has issued a series of questions and answers regarding the CARES Act coronavirus-related relief for retirement plans and Individual Retirement Accounts. That’s helpful as folks consider tapping these accounts in the economic downturn.
As of April 17, Fidelity Investments found that 164,950 individuals (nearly 1 out of 100) covered under 401(k) and 403(b)…