The Covid-19 pandemic has caused unprecedented financial fallout. The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was intended to mitigate some of the resulting economic hardship. A key provision of the CARES Act makes it easier for individuals to withdraw funds from retirement plans such as a 401(k) or Individual Retirement Account (IRA) in order to access needed capital. The changes temporarily eliminate the tax penalty on certain early withdrawals from retirement plans, relax the rules related to the payment of the resulting federal income tax, and make it easier to obtain loans from these types of accounts.