26 Oct I emptied my IRA when the stock market crashed. Are there penalties?
The CARES Act eliminated penalties for some early IRA distributions. ...
21 Oct How do I pay taxes on a coronavirus retirement account withdrawal?
Any money taken from a retirement account is taxed as ordinary income. ...
15 Oct Should I take a large distribution from my IRA?
While you can take a penalty-free withdrawal, you will still owe taxes. ...
14 Oct Will the IRS know if I’m truthful about early 401(k) withdrawals?
Early withdrawals under the CARES Act must be for a COVID-19 reason. ...
01 Oct I took money from my 401(k). Can I get back the taxes withheld?
You may have to wait until you file your tax return to reconcile the funds. ...
01 Oct Do I have to take money from my 401(k) or IRA in 2020?
The CARES Act allows you to skip your Required Minimum Distribution in 2020. ...
17 Sep Will this strategy help my Roth IRA conversion be tax-free?
Roth conversions will lead to taxes owed depending on your overall situation. ...
16 Sep Will a 401(k) withdrawal put me in a higher tax bracket?
The CARES Act makes an early withdrawal from a retirement account a little less painful. ...
09 Sep I had a 401(k) withdrawal. What’s taxable under the CARES Act?
You may be able to avoid penalties and some taxes too. ...
08 Sep Can my wife and I both take from our 401(k)s under the CARES Act?
Under certain circumstances, you can qualify for a penalty-free withdrawal....