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  • April 01, 2020

    Retirement Plan Benefits: The CARES Act and Other Tax Planning Considerations

    In this article, Terri Boxer and Thomas Moniz of von Briesen & Roper S.C. explain retirement tax planning considerations in light of the CARES Act.

    The $2 trillion stimulus package known as the Coronavirus Aid, Relief, and Economic Security (CARES) Act has been approved by Congress and signed into law by President Trump.

    In “Retirement Plan Benefits: The Cares Act and Other Tax Planning Considerations,” Terri Boxer and Thomas Moniz of von Briesen & Roper S.C. explain that the Act waives required minimum distributions (RMDs) from certain retirement accounts for 2020.

    “This is particularly important given that RMDs for 2020 are calculated based on account balances as of December 31, 2019, when the market was at or near record highs,” write the authors, also noting additional flexibility built into the CARES Act.

    “In addition to the waiver of 2020 RMDs, the Act includes additional flexibility for those impacted by COVID-19 or the related financial fallout who need to use funds from their retirement accounts to cover costs,” they write.

    See more articles and notices on the table of contents page for the Coronavirus & the Law Blogfrom the State Bar of Wisconsin. To be notified of updates to this blog, subscribe to the Coronavirus & the Law Blog's RSS feed via this link at

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    Coronavirus & the Law, published by the State Bar of Wisconsin, includes legal, law practice, and other information about the impact of coronavirus. To contribute to this blog, contact Shannon Green.

    Disclaimer: Views presented in blog posts are those of the blog post authors, not necessarily those of the Section or the State Bar of Wisconsin. Due to the rapidly changing nature of law and our reliance on information provided by outside sources, the State Bar of Wisconsin makes no warranty or guarantee concerning the accuracy or completeness of this content.

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