The Internal Revenue Service provided a reminder today that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment for withdrawals from retirement plans and IRAs and allowing certain retirement plans to offer expanded loan options. Today's blog highlights the details on this provision of the Act.

Your tax advisor at Sharrard, McGee & Co., PA is available to answer any questions you may have about the CARES Act and how the various provisions may impact you and your business. Call us in High Point at (336) 884-0410 or in Greensboro at (336) 272-9777.