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IRS Clarifies COVID-19 Relief Measures for Retirement Savers

A Couple on the couch looking worried as tFamily Financial Crisis Concept. Depressed Black Couple Looking At Invoice, Not Able To Pay Huge Bills, Suffering From Coronacrisis At Home

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. The rules were welcome relief to many people, but left questions about the details unanswered.

In late June, the IRS released Notices 2020-50 and 2020-51, which shed light on these outstanding issues.


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Holland Rajaniemi may be reached at 860-885-3680 or [email protected]


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