Time is jogging out to repay Covid-period 401(k), IRA withdrawals — and claim a tax refund

Time is jogging out to repay Covid-period 401(k), IRA withdrawals — and claim a tax refund


Essential Points
  • The CARES Act, a federal pandemic-aid regulation, allowed investors to withdraw up to $100,000 in coronavirus-related distributions from 401(k) options and individual retirement accounts in 2020.
  • These CRDs carried tax advantages. If an trader repaid all or part of a distribution in just a few decades, they could declare a tax refund for the profits taxes compensated on the withdrawal.
  • That a few-calendar year clock is working out for a lot of folks.



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