-
IRS announces rollover relief for required minimum distributions from retirement accounts that were waived under the CARES Act
July 7, 2020
Categories: Business, Retirement, Tax, Tax Breaks
The Internal Revenue Service today announced that anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts now has the opportunity to roll those funds back into a retirement account following the CARES Act RMD waiver for 2020. The 60-day rollover period for any RMDs already taken this year has been extended to Aug. 31, 2020, to give taxpayers time to take advantage of this opportunity. The IRS described this change in Notice 2020-51, released
Accountants with Personality
