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February 5, 2016

IRS Issues Fact Sheet-FS-2016-8-A summary of tax law changes for 2015- including retirement accounts

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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

Written By

Denise Appleby

Denise is CEO of Appleby Retirement Consulting Inc., a firm that provides IRA resources for financial/ tax/legal professionals. She has over 20 years of experience in the retirement plans field, which includes training and technical consultation.

Denise writes and publishes educational /marketing tools for advisors; available at http://irapublications.com. Denise co-authored several books on IRAs

Denise is a graduate of The John Marshall Law School, where she obtained a Masters of Jurisprudence in Employee Benefits, and has earned 5 professional retirement designations.
She has appeared on numerous media programs, sharing her insights on retirement tax laws.

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