If you need money now, the CARES Act allows people who are financially struggling during the Coronavirus pandemic to make an early withdrawal from a retirement account.
The CARES act allows you to take distributions up to $100,000 from eligible retirement plans like IRAs, qualified pensions, 401ks plans and others. To qualify, you have to have been diagnosed with COVID-19, lost work because of it or own a business that's been closed during the pandemic.
For more information or financial assistance from Vivid Tax Advisory Services, click here.