301k Withdrawals

[Detour]

Last year my business tanked due to covid.  My husband and I had to make a withdrawal out of his 401k to survive.  In 2020 tax year it was not announced until March that the 10% penalty would be waived for 401k withdrawals.  What are the chances that same thing will  happen for 2021?

[Michele_H]

Hi @Detour here is an article related to the Covid act for 2021.  At this time we do not have guidance on your question related to the 10% penalty waiver.

https://www.irs.gov/newsroom/coronavirus-related-relief-for-retirement-plans-and-iras-questions-and-...