11/26/2022 0 Comments Ive got bills to pay![]() ![]() And if you’re unable to repay the loan when it comes due, you’ll face additional penalties. Either way, it’s worth remembering that the money you borrow will no longer grow tax-deferred. However, it’s up to your employer whether to implement the new rules or just stick with the old ones. The Coronavirus Aid, Relief, and Economic Security Act (CARES), passed in March 2020, introduced some new rules for people affected by the coronavirus pandemic, raising the borrowing limits (from $50,000 to $100,000) and allowing borrowers to delay repayment in some cases.
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