Although minor in comparison to the 2017 tax reform law, both the SECURE Act and the CARES Act made changes to the tax code effective for Tax Year 2020. These changes are beneficial to most taxpayers and offer options to individuals looking to maximize their retirement savings and get assistance if being affected financially by the COVID-19 pandemic. However, some of these new provisions are temporary. For example, taxpayers may take an early distribution from a retirement account without incurring the usual 10% early withdrawal penalty--but this provision expires at the end of the year. Our tax experts keep current with developments in the law and are available to educate and advise you on tax planning to maximize your benefit under new and existing laws.