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Seth Hanft Comments on IRS Expansion of COVID-19 Retirement Plan Relief

News / June 22, 2020

Counsel Seth Hanft is quoted in an article published by Tax Notes on June 22, 2020. The article, “IRS Expands COVID-19 Retirement Plan Relief,” reports on how the Internal Revenue Service (IRS) has expanded the categories of individuals who may tap into their retirement plans without incurring early withdrawal penalties.

Hanft noted that the addition of individuals whose spouse or household members are financially affected by COVID-19 “caught my eye,” adding, “That is something we’ve had a lot of clients ask us about. . . . Essentially the IRS is opening it up to events that impact your spouse or a member of your household as being a reason that might trigger one of those distributions.”

Read the article.

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