Rollover Relief for Required Minimum Distributions
The Coronavirus Aid, Relief and Economic Security Act has suspended the requirement to take required minimum distributions from retirement accounts in 2020. The Internal Revenue Service has provided relief to people who had taken RMDs before the law was enacted by letting taxpayers roll distributions back into retirement accounts by Aug. 31.
If you should have any questions, please contact our office at (206)243-2336 or email us at office@hawthorne-cpa.com.
** This information is provided for general educational purposes only. Before taking any action based on this information, we strongly encourage you to consult with a professional accounting advisor about your specific situation.