The team at Dodson Parker Behm & Capparella, PC shares updates and thoughts on developments in the law.
What You Need to Know about Your Retirement Accounts as a Result of the Pandemic
Federal legislation was recently enacted which affects your retirement accounts–such as IRAs, 401ks, 403(a)s, 403(b)s, and governmental 457(b) plans. This post is a summary of important changes. I. Changes for All Individuals All Required Minimum Distributions (RMDs) are waived for the calendar year 2020. If you have already received a RMD for 2020, you may either roll it over into a...
read moreApril 15 is NOT Tax Day. Here are 5 Things You Need to Know about Taxes This Year
Today we’re talking about important changes to state and federal tax deadlines, relaxed rules on hardship withdrawals from 401(k)s, and a deduction that can help employers and at-home workers. Here are five things to know about tax matters in 2020: 1. IRS Extension for Filing and Paying TaxesThe April 15 deadline for the filing of federal income tax returns and payment of the taxes has...
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