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How to Manage the Taxes on a Covid-Related Withdrawal From Your IRA or 401(k)


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With little more than a week left to take tax-friendly withdrawals from individual retirement accounts and 401(k)s under the Cares Act, people stung financially or physically by Covid-19 are making last-minute decisions while wading through a thicket of rules that could have an impact on future taxes. To help readers navigate the rules, Barron’s Retirement has been looking for answers and expert guidance.
I’d like to take $90,000 out of my IRA before the Cares Act runs out this year. If I do that, will I have any control over when I pay the taxes or will I owe taxes on $30,000 every year for three years? I’m not eager to pay taxes this year because my taxes will be a lot lower during the next two years. ....

Ed Slott , Julie Welch , Cares Act , ஜூலி வெல்ச் , அக்கறை நாடகம் ,

How to Manage the Taxes on a Covid-Related Withdrawal From Your IRA or 401(k)

How to Manage the Taxes on a Covid-Related Withdrawal From Your IRA or 401(k)
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Ed Slott , Julie Welch , Cares Act , ஜூலி வெல்ச் , அக்கறை நாடகம் ,