We think of taxes when April 15th approaches, but retirees need to be aware of several important tax deadlines that are now looming in the next few weeks. In the most recent AARP blog, Taxpayers and Retirees: Heed These Deadlines To Avoid Pitfalls, Carole Fleck has alerted us to the crucial IRS mandates that occur in September, October, and December.
The rules cover situations of inherited IRAs, Roth IRA conversions, extended tax filing, and retirement account Required Minimum Distributions (for those at least 70½ years). Ms. Fleck not only alerts us to the impending deadlines and the background of each topic, she also provides some tips on to how manage each topic, while doing it in a very readable style.
While articles like this are certainly not a substitute for competent professional financial management advice, this is definitely a fine resource for understanding some of the financial issues that, should they be overlooked, would incur a serious penalty from our friends at the IRS. Do not miss this short but timely article!