If you’ve skipped a car payment or two recently — or you worry you might have to miss an upcoming one — you’re not alone. Due to the coronavirus recession and record levels of unemployment, over 7% of all car loans in the US are currently in some sort of deferment program, according to recent data released by credit reporting agency TransUnion.

If you meet the criteria, you have until the end of 2020 to make a qualified distribution of up to $100,000 — per person — without incurring the 10% tax penalty. Keep in mind that although these would be penalty-free withdrawals, you’ll still owe income taxes on them. But you can spread out what you owe over the course of three years.

Juergen Klopp’s side grabbed a fourth minute lead after referee Michael Oliver harshly ruled that Leeds’ debutant German defender Robin Koch had handled a Salah shot which deflected off his thigh on to his outstretched arm.

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Sir David Attenborough has revealed how he helped reunite the families of two Jewish refugee sisters who fled Nazi Germany on the Kindertransport and were taken in by his parents during the Second World War.

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Irene and Helga Bejach, aged 13 and 12 respectively, arrived in August 1939, just 17 days before war broke out, and were among the 10,000 Jewish and half-Jewish children who fled to Britain as part of a mass humanitarian rescue effort.

Feeling compassion for their plight, Attenborough’s parents, Mary and Frederick, decided to take the girls in to their Leicester home, where they would live for the next seven years and special info become like ‘sisters’ to their three sons, David, Richard and John. 

What were the rules before COVID-19? Prior to the passage of the CARES Act, you couldn’t take money out of your retirement accounts before you were 59 1/2 years of age without getting hit with an “early withdrawal” charge. The 10% tax penalty was put in place to dissuade people from spending money that they should be saving for retirement.

With unemployment levels still high and millions of workers furloughed or working fewer hours than before, this major rule change could help bring much-needed relief to the increasing number of Americans financially impacted by the . Of course, drawing on retirement funds is something to avoid if possible — but as the government continues to wrestle over the details of an additional stimulus package and other sources of funding dry up, borrowing from a retirement account may become an appealing option. 

Tax implications: Even though you’re avoiding the 10% early distribution penalty, you will still be subjected to income taxes on that money. Remember: money deposited into a traditional IRA is taxed when it’s withdrawn — not when it’s contributed. So, however much money you withdraw will be added to your annual income, and you’ll be taxed on that accordingly. That could put you in a different tax bracket and dramatically change how much you owe in taxes. 

In addition to giving Americans and paving the way for , the CARES Act has temporarily changed the rules about withdrawing money from retirement accounts. You can now take penalty-free withdrawals from up to $100,000 without facing the usual early withdrawal fees. 

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Leeds felt for a moment they were level again when, after Harrison’s lob over an advancing Alisson, Alexander-Arnold bizarrely headed into his own goal but the linesman subsequently flagged for offside.

Even though there were some exemptions to the rule — like withdrawals for tuition and other educational expenses or buying a home — Americans were forking out more than $5 billion a year in early withdrawal fees, according to the IRS. To avoid getting hit with the penalty, it’s generally a good idea to leave your retirement account alone until after you’ve stopped working full-time.

Armstrong thought he had given the visitors a late lead but it was ruled out for offside and the Cherries, back in the second tier after five years in the Premier League, grabbed the points late on through Danjuma. 

Liverpool restored their lead in the 20th minute and this time Leeds had only themselves to blame, leaving the obvious threat of Virgil van Dijk unchallenged with the towering Dutchman heading home an Andy Robertson corner.


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