The adverse economic impacts of the COVID-19 pandemic have affected industries and businesses across the country. Millions of Americans are experiencing job loss, reduced or no income, and uncertainty for the future. In response, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was recently signed into law. The legislation offers immediate financial relief to a variety of sectors of the community, including small businesses, hospitals, and education, as well as individuals and families.
What can you expect from the relief package? View our summary of two provisions that may affect you: changes to required minimum distributions (RMDs) and recovery rebate checks for individual and married tax filers. Hear from Molly Stanifer CFP®, Financial Advisor at Old Peak, about the CARES Act:
Learn more about who’s eligible for a rebate check and if and how you can benefit from a deferred RMD from your IRA this year. Contact us if you have questions specific to your situation, and we’ll be happy to guide you through your options.