Tax & Accounting
June 30, 2020
IRS further expands rollover rules allowing repayment of 2020 waived RMDs
On March 27, 2020, the President signed the CARES Act. Since then, additional guidance provided by the IRS gives IRA owners and beneficiaries the opportunity to repay to an IRA amounts that under normal circumstances would have been an RMD for 2020, allowing these individuals to avoid paying tax on the distribution.