Avatar Avatar
Avatar

IRA AND RETIREMENT PLANNING UNDER THE CARES ACT, INCLUDING IRS NOTICE 2020-50 AND WHAT YOU NEED TO KNOW FOR SMALL BUSINESS PLANNING



Watch Now!
Recording and Slides are Available Here


On Friday, June 19, 2020, the IRS released Notice 2020-50, which gives us new specifics as to the CARES Act provisions relating to IRA and Retirement Plan withdrawal rights for direct and indirect victims of the COVID-19 virus. This pronouncement enumerates new categories of taxpayers who can withdraw up to $100,000 from an IRA or Retirement Plan, and who can make the determination on or before the third anniversary of the date on which the withdrawal occurs as to whether to repay the withdrawn amount to eliminate all income tax associated therewith, or to keep the amounts withdrawn. 

This is a good planning opportunity for those in need of funds now, but also wealthy taxpayers who can effectively “borrow” equities from the IRA or Retirement Plan to have the advantage of having capital gains tax apply to any growth that occurs on the withdrawn equities from the withdrawal date in 2020 through the repayment date in 2023 if things go well, or to simply recontribute to the IRA or Retirement Plan an amount equal to the withdrawn amount if things do not go well. The Notice also provides guidance on the mechanics of tax reporting and tax consequences associated with the various decisions available to the taxpayers with respect to whether the taxpayer decides to: (a) pay the income tax on the 2020 withdrawal in 2020; (b) pay the income tax ratably over three years with respect to the 2020 withdrawal; or (c) completely repay the amount withdrawn within three years of the withdrawal in 2020.

To understand the nuances of Notice 2020-50, be sure to join Alan Gassman, Christopher Denicolo and Brandon Ketron in their exclusive LISI Webinar that will review the primary methods for handling IRA and Retirement Plan accounts and benefits from an estate planning standpoint. This includes a detailed discussion of trusts in the context of estate planning for IRAs and other Retirement Plan assets, and how the required minimum distributions work for 2020 and thereafter as a result of the SECURE Act.

Key discussion points will include the following:

1. Newly announced rules to define the broader class of taxpayers that can take advantage of the provisions in the CARES Act relating to IRAs and Retirement Plans.

2. How the CARES Act has implemented required minimum distribution rules and associated circumstances.

3. The various options available regarding a “Coronavirus-related distribution.” 

4. Whether it is advantageous to withdraw $100,000 excise tax-free from an IRA or Retirement Plan, given that it can be repaid without interest or penalty on or before the third anniversary of the distribution, without penalty.

5. How the CARES Act has made Chapter 11 bankruptcies much more friendly with the enactment of “Subchapter V.”

6. And much more.



There will be no CE for this webinar


For those who have a conflict with the date/time, The session will be recorded. Simply register and you will have unlimited access to the recording.

Although they are scheduled for a particular time and date - once purchased - they can be viewed at ANY TIME!.

If you are not a LISI member please use the Buy Now Button below to pay the non-member price of $149*. *plus applicable sales tax (if any)

Registrant Email:

After you pay you will be sent a link with the registration information. Your webinar registration is designed for one individual user and groups up to 5 individuals. Sharing beyond this is not permitted. If you are interested in group access to our webinar content, please send an email to lisiwebinars@gmail.com

If you have any questions, please contact webinaradmin@leimbergservices.com

NOTE: To pay using a credit card, use the botton labeled
"Pay with Debit or Credit Card" after clicking the Buy Now button below.

If you are a LISI member, please login below to receive the member price of $129* for this webinar. *plus applicable sales tax (if any)

Forgot Password?

To become a LISI member Click Here



Avatar

Bob Keebler

March 3, 2021 3:00 PM ET - 4:30 PM ET ET

THE TAX ASPECTS OF DECANTING AND REFORMING TRUSTS

More Info
Avatar

Steve Siegel

March 4, 2021 3:00PM ET - 4:30PM ET ET

The Complete Trust Course: Part 1

More Info
Avatar

Paul Hood

March 4, 2021 1:00PM ET - 2:30PM ET ET

Part 3 of Paul Hood's Six-Part Series on the Federal Transfer Tax System: Estate Tax Deductions

More Info
Avatar

Eric Green

March 5, 2021 3:00PM ET - 4:30PM ET ET

Tax Liens & Tax Levies

More Info
Avatar

Eli Akhavan

March 05, 2021 1:00PM ET - 2:30PM ET

Structuring Foreign Ownership of US Residential Real Estate - Pitfalls and Solutions

More Info
Avatar Avatar

Michael Geeraerts Jim Magner

March 05, 2021 11:00AM ET - 12:30PM ET

Alternative Life Insurance Ownership Structures if Congress Takes a Swing at ILITs Using New Code Section 2901

More Info
Avatar

Linas Sudzius

March 11, 2021 3:00PM ET - 4:30PM ET

How to Handle an Unexpected Form 1099-R Received from a Life Insurance Company/Financial Institution: Reconciling with all the Tax Partners

More Info
Avatar

Paul Hood

March 11, 2021 1:00PM ET - 2:30PM ET

Part 4 of Paul Hood's Six-Part Series on the Federal Transfer Tax System: Estate Tax Credits; Estate Tax Reimbursement & Apportionment Provisions, Gift Tax Introduction & Overview of Generation-Skipping Transfer Tax

More Info
Avatar

Steve Siegel

March 12, 2021 1:00PM ET - 2:30PM ET ET

The Complete Trust Course: Part 2

More Info
Avatar

Linas Sudzius

March 18, 2021 3:00PM ET - 4:30PM ET ET

Private Letter Ruling 202031008 Opens Multiple Annuity Planning Opportunities

More Info
Avatar

Paul Hood

March 18, 2021 1:00PM ET - 2:30PM ET ET

Part 5 of Paul Hood's Six-Part Series on the Federal Transfer Tax System: Selected Gift Tax Topics; Overview of Generation-Skipping Transfer Tax

More Info
Avatar Avatar

Michael Liebeskind Bryan Bloom

March 19, 2021 3:00PM ET - 4:30PM ET ET

Private Placement Life Insurance (PPLI) and Private Placement Annuities (PPA) - A Major Tax Planning Opportunity for HNW Clients in 2021

More Info
Avatar

Steve Siegel

March 19, 2021 1:00PM ET - 2:30PM ET ET

The Complete Trust Course: Part 3

More Info
Avatar

Paul Hood

March 19, 2021 1:00PM ET - 2:30PM ET ET

Out of the Hood: Analysis With An Attitude©: Overview of Estate Planning From 30,000 Feet

More Info
Avatar

Eric Green

March 25, 2021 1:00PM ET - 2:30PM ET ET

The Biggest Mistakes Made During Tax Season that Trigger IRS Enforcement!

More Info
Avatar

Paul Hood

March 25, 2021 1:00PM ET - 2:30PM ET ET

Part 6 of Paul Hood's Six-Part Series on the Federal Transfer Tax System: Valuation: General Principles

More Info
Avatar

Mark Merric

March 26, 2021 3:00PM ET - 4:30PM ET ET

Understanding Tax Provisions in An LLC Operating Agreement - Formation Concepts Part 2: Capital Accounts Compared to Stock

More Info
Avatar

Steve Oshins

April 2, 2021 1:00PM ET - 2:30PM ET ET

The Spousal Lifetime Access Trust: A Gifting and Creditor Protection Technique, What Advisors Need To Know for 2021

More Info
Avatar

Mark Merric

April 23, 2021 3:00PM ET - 4:30PM ET ET

Understanding Tax Provisions in An LLC Operating Agreement - Formation Concepts Part 3: Deducting Losses and Four Tax Hurdles

More Info