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2020 stimulus package: How will a new one stack up to the last one?

Tax implications: Even though you're avoiding the 10% early distribution penalty, you will still be subjected to income taxes on that money. Remember: money deposited into a traditional IRA is taxed when it's withdrawn -- not when it's contributed. So, however much money you withdraw will be added to your annual income, and you'll be taxed on that accordingly. That could put you in a different tax bracket and dramatically change how much you owe in taxes. What now for...

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