The IRS has issued fact sheet- FS-2016-8, in which they provide a summary Avenue tax law changes for 2015. This includes changes for retirement savings account. The following are the retirement plans related topics that were covered.
- The deadline for making IRA contributions for 2015 is April 18, 2016 for some and April 19, 2016. This is tied to the deadline for filing once tax return, or for filing for an extension. Reminder: tax filing extensions do not apply to IRA contributions.
- The new ABLE Accounts for Some People with Disabilities
- The new myRA program (a starter retirement account)
- The one-Rollover-Per-Year Limit for IRA Owners
The Fact Sheet can be viewed here