- posted: May 07, 2020
Persons with an Individual Retirement Account
- 10% penalty for early withdrawals—waived up to $100,000 for corona related distributions.
Business Owners
- Payroll Tax Deferral—from the date of the CARES Act is signed into law until the end of December 2020.
- Employee Retention Credit—employers will get a credit of 50% qualified wages.
- Operating Losses—five year carryback of net operating losses for businesses.
Contact us today to review your estate planning matter
Call me, Joseph E. Deering, at 866.214.7267 or contact my firm online to schedule a consultation.