In response to the COVID-19 pandemic, almost every state in America is under some sort of stay-at-home order. The order has led many businesses, large and small, to downsize, furlough workers, or close up shop entirely. In response to the drastic financial impact of COVID-19 on the American economy, …
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The CARES Act: Giving You Emergency Access to Your Money
Required Minimum Distributions Waived for 2020 Under normal circumstances, retirement plan account owners must withdraw required minimum distributions (RMDs) annually starting with the year they reach 72 (70 ½ if you reach 70 ½ before January 1, 2020). The CARES Act suspends RMDs for 2020. What …
IRS Update: Economic Stimulus Payments
Quickly sending millions of Americans money sounds simple. What could be so complicated about that? As it turns out, it’s a major project and it probably won’t be as fast or as easy as many people hope. In this post, we provide the most up-to-date information along with FAQ from the IRS. We will …
