Raided Your Retirement Plan During Coronavirus? You Have Some Tax Decisions to Make
The 2021 tax-filing season is getting off to a delayed start. The IRS recently announced it would first begin accepting tax returns on Feb. 12, whereas the agency normally starts taking returns at the end of January.
If you're expecting a refund on this year's tax return, you may be eager to start gathering your paperwork and getting your taxes together. But if you took a CARES Act withdrawal from your retirement plan last year, you'll also have some big decisions to make -- whether to put that money back or not, and how to spread out your tax liability if you don't intend to replace those funds.
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Source Fool.com
