Due to a combination of recent Congressional acts, there are ample reasons to consider converting all or a portion of your traditional IRA to a Roth IRA in 2020. Here are a few thoughts on this strategy and the rationale behind it. As with any important financial decision, be sure to first consult with your qualified tax and financial planning professionals prior to acting.
Taxes
In response to the coronavirus (COVID-19) pandemic, lawmakers have passed a bill titled The Coronavirus Aid, Relief, and Economic Security (CARES) Act on March 28, 2020, in an effort to reduce the economic and health related impact of the virus.