The IRS has issued a new "forever" form for taxpayers who took early distributions related to COVID-19 from their qualified retirement accounts in 2020. "Form 8915-F is a forever form" and replaces ...

Q. My wife and I took out money from her 401(k) as a coronavirus-related distribution. We claimed the income on 2020 taxes with the 1099 sent to us. However, we used Form 8915-E and only paid taxes on ...

Q. I took a COVID hardship withdrawal from my 401(k). I understand that I have to claim it as income either at once or over three years on my tax return if I don’t pay it back within three years. But ...

As you read this in early February, your clients are receiving their annual 1099-R forms that report distributions taken in 2020 from their IRAs and other retirement accounts. Once they look the forms ...