No, the penalty has been waived for 2020. But the forms have not been finalized yet. Check back later; the program is being updated daily. The IRS does not start accepting e-filed returns until Feb 12th, so no need to rush to file before that.
The 10 percent early withdrawal penalty may be waived on up to $100K of retirement funds withdrawn if you are a qualified individual impacted by Coronavirus. You are a qualified individual if:
- You, your spouse, or dependent are diagnosed with Coronavirus
- You experience adverse financial consequences as a result of being quarantined, furloughed, or laid off
- You had hours reduced due to Coronavirus
- You are unable to work due to your child care closing or reducing hours
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