IRS makes it easier to take out loan, withdraw money from retirement accounts

Source: Michelle Singletary, Washington Post (Paid Registration)

With unemployment still high, no agreement on a second round of stimulus payments, and the extra $600-a-week jobless benefit ending next month, the IRS has made it easier for people to pull money from their retirement plans without a costly penalty. But even though the relaxed rules make it easier to tap your money under the Cares Act, financial planners and CPAs still caution that raiding your retirement money should be a last resort.

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