As you may know, The CARES Act (Coronavirus Aid, Relief and Economic Security Act) was signed into law on Friday March 27, 2020. The Act provides $2.2T of economic relief to individuals and businesses all across the United States. Although there are many provisions within the 883-page Act, one provision that stands out amongst the others is the option to skip Required Minimum Distributions (RMD’s) for 2020.
This includes both Traditional IRA RMD’s and Beneficiary IRA RMD’s.
