"[T]he ARA has pressed for relief that would: [1] waive the Section 72(t) additional 10% penalty tax on early withdrawals from retirement plans for individuals who have a principal residence in a declared health emergency area and suffered economic loss; [2] permit individuals three years to repay distributions; [3] increase retirement plan loan limits to the lesser of $100,000 or 100% of the participant's vested account balance in a plan ... [4] allow individuals unable to repay loans to pay the income tax associated with a loan default over three years rather than all in the year of default; [5] allow individuals who borrowed from their plan and have a repayment due to delay their loan repayment for up to a year; [6] provide a wage credit for employee retention for employers impacted by the virus outbreak; [7] provide an automatic 60-day extension of tax-filing deadlines; and provide a temporary waiver for 2020 RMDs from DC plans and IRAs."

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