Withdrawing from retirement plans may have tax implications

By , Special to The Daily Memphian Updated: December 28, 2020 4:00 AM CT | Published: December 28, 2020 4:00 AM CT

Among other things, the CARES Act eliminated the 10% early withdrawal penalty for individuals under the age of 59½. But one-third of any money withdrawn will be included as income on taxes for each of the next three years

Topics

Individual Retirement Account CAREs Act
Christin Yates

Christin Yates

Christin Yates is a native Memphian who has worked in PR and copywriting since 2007. She earned her B.S. in public relations and M.S. in mass communications from Murray State University.


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