Yes, the early withdrawal penalty of 10% would be waived under the CARES Act for 2020 for withdrawals of $100,000 or less.
That does not reduce or take away any income tax liability due to your withdrawal, only the early distribution penalty is waived.
Thank you @dmertz for adding the distinction that the distribution must be a qualified Corona-virus related distribution. Exactly what that means has not yet been defined by the IRS to my knowledge.
@dwwill45
[edited 5/22/2020 | 8:51 am PST]
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