{"id":11141,"date":"2020-04-30T13:30:00","date_gmt":"2020-04-30T13:30:00","guid":{"rendered":"https:\/\/hwsmarketindev.wpengine.com\/2020\/04\/30\/blog-employee-leave-under-the-families-first-coronavirus-response-act-0-1\/"},"modified":"2026-05-30T03:51:28","modified_gmt":"2026-05-30T03:51:28","slug":"blog-employee-leave-under-the-families-first-coronavirus-response-act-0-1","status":"publish","type":"post","link":"https:\/\/www.homeworksolutions.com\/es\/2020\/04\/30\/blog-employee-leave-under-the-families-first-coronavirus-response-act-0-1\/","title":{"rendered":"La Ley CARES cambia las reglas de los planes de jubilaci\u00f3n y las contribuciones caritativas."},"content":{"rendered":"

\"04_07_20_1185407358_ITB_560x292\"<\/p>\n

Durante la crisis de COVID-19, muchas personas y organizaciones ben\u00e9ficas necesitan efectivo. La nueva Ley CARES puede ofrecer algunas soluciones.<\/span><\/p>\n

<\/span> <\/p>\n

As we all try to keep ourselves, our loved ones, and our communities safe from the coronavirus (COVID-19) pandemic, you may be wondering about some of the recent tax changes that were part of a tax law passed on March 27.<\/p>\n

The Coronavirus Aid, Relief, and Economic Security (CARES) Act contains a variety of relief, most notably the \u201ceconomic impact payments\u201d that will be made to people under a certain income threshold. But the law also makes some changes to retirement plan rules and provides a new tax break for some people who contribute to charity.<\/p>\n

Waiver of 10% early distribution penalty<\/strong><\/p>\n

IRAs and employer sponsored retirement plans are established to be long-term retirement planning accounts. As such, the IRS imposes a penalty tax of an additional 10% if funds are distributed before reaching age 59\u00bd (there are some exceptions to this rule).<\/p>\n

Under the CARES Act, the additional 10% tax on early distributions from IRAs and defined contribution plans (such as 401(k) plans) is waived for distributions made between January 1 and December 31, 2020 by a person who (or whose family) is infected with COVID-19 or is economically harmed by it. Penalty-free distributions are limited to $100,000, and may, subject to guidelines, be re-contributed to the plan or IRA. Income arising from the distributions is spread out over three years unless the taxpayer elects to turn down this optional tax treatment.<\/p>\n

Employers may amend defined contribution plans to provide for these distributions. Additionally, defined contribution plans are permitted additional flexibility in the amount and repayment terms of loans to employees who are qualified individuals.<\/p>\n

Waiver of required distribution rules<\/strong><\/p>\n

Depending on when you were born, you generally must begin taking annual required minimum distributions (RMDs) from tax-favored retirement accounts \u2014 including traditional IRAs, SEP accounts and 401(k)s \u2014 when you reach age 70\u00bd or 72. These distributions are subject to federal and state income taxes.  You do not need to take RMDs from Roth IRAs, as these funds were contributed on a post-tax basis.<\/p>\n

Under the CARES Act, RMDs that otherwise would have to be made in 2020 from defined contribution plans and IRAs are waived. This includes distributions that would have been required by April 1, 2020, due to the account owner\u2019s having turned age 70\u00bd in 2019.<\/p>\n

New charitable deduction tax breaks<\/strong><\/p>\n

The CARES Act makes significant liberalizations to the rules governing charitable deductions, including:<\/p>\n