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FORM 8915 E, 8915 F, 5329
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Olympus Tax
Level 3
01-27-2022
11:14 AM
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Is this accurate information?
"Although the initial provision for penalty-free 401k withdrawals expired at the end of 2020, the Consolidated Appropriations Act, 2021 provided a similar withdrawal exemption, allowing eligible individuals to take a qualified disaster distribution of up to $100,000 without being subject to the 10% penalty that would normally apply. This extended the timeline for penalty-free distributions through June 25, 2021."
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qbteachmt
Level 15
01-27-2022
11:23 AM
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There have always been provisions for disaster withdrawals. What there is for 2020 only is "covid" disaster.
https://hbkcpa.com/caa-suspends-early-distributions-retirement-plans/
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