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Why Individuals Should Care About the CARES Act: Retirement Plans and Charitable Contributions

May 11, 2020 Retirement Plans

The Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) provides various relief provisions for individuals, including provisions that benefit individuals in relation to their retirement plans and that provide an increase in allowable charitable deductions. Income Taxation of Retirement Plans 10 Percent Additional Tax Waived for Coronavirus-Related Distributions Generally,…