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 But one-third of any money withdrawn will be included as income on taxes for each of the next three years

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Topics

Individual Retirement Account CAREs Act

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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