IRS provides guidance on reporting coronavirus-related distributions from eligible retirement plans

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June 19, 2020
2020-1618

In Notice 2020-50, the IRS provides guidance on applying a provision of the CARES Act (i.e., Section 2202) under which coronavirus-related distributions from eligible retirement plans may receive favorable tax treatment. The guidance explains how plans may report coronavirus-related distributions and how individuals may report the distributions on their individual tax returns.

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