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Americans can take money out of their retirement accounts penalty-free during the coronavirus pandemic
The president signed into law a $2 trillion coronavirus economic relief bill on Friday. In...The president signed into law a $2 trillion coronavirus economic relief bill on Friday. In addition to making direct payments to American workers, the bill also relaxes the retirement account withdrawal rules. The standard 10% penalty for non-qualified early withdrawals has been waived for distributions up to $100,000. However, the amount will still be subject to regular income tax due within three years. ...