The CARES Act adopted in March, 2020 gives a special tax break for those taxpayers that need to take money out of their retirement plans. Taxpayers can take out up to $100,000 in 2020 from their retirement plan. As a special tax break, they can spread the tax bill on that income (withdrawal) over three years (2020, 2021 and 2022). The only requirement is that the taxpayer was affected medically or financially by the Corona virus or lock-down. Taxpayers will likely have to make some sort of statement on their return that the withdrawals are related to the pandemic to qualify for this special tax break.
Note, if you are younger than 59 1/2 the normal 10% penalty on early withdrawals will not apply if you decide to use this tax strategy.
Also, taxpayers get three years to repay the withdrawal back to the account. If your circumstances improve before 2022 you can put the money back into the plan and file amended returns to get back the money you paid on the earlier withdrawals. The result would be basically an interest free and penalty free loan.