October 15th is Coming…

As the IRS October deadline approaches, here are a few important October 15th reminders:

Extension Deadline
This the general extension deadline for most taxpayers.

This is the deadline for recharacterizing regular IRA contributions.

*Please note: as of 1/1/18, you can no longer recharacterize a Roth conversion. If, however, you did a conversion in 2017, the IRS will allow you to recharacterize your 2017 Roth conversion by the 10/15/18 deadline.

SEP-IRA Funding
If you requested an extension, this is the deadline to fund your plan for the 2017 tax year.

Source: www.irs.gov

More Updates


The coronavirus-related distribution (CRD) rules for Roth conversions have a gaping hole. An “affected person” (as we have defined in previous blogs), is entitled under the CARES Act to withdraw up to $100,000 from their IRA or workplace retirement plan. A CRD avoids the 10% early distribution penalty for those under 59 1/2, can be

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Rolling Over an RMD

Like most people’s lives, the retirement world is upside down. This is made evident by a single statement: “Required minimum distributions (RMDs) can be rolled over.” Yes, that is the new normal—at least for this year. RMDs are considered the first money out of an IRA and workplace plan. Typically, these dollars are ineligible to

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Tapping Into Retirement Accounts If Not Directly Impacted By COVID-19

The recently-­‐enacted Coronavirus Aid, Relief, and  Economic Security Act (CARES  Act) signed by President Trump  on  March  27, 2020, allows  “qualified individuals” to take up  to  $100,000 of  penalty-­‐free IRA and company plan withdrawals during 2020. “Qualified individuals” include those who are (or whose family members are) sickened by the virus or who have virus-­‐related

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