Tax Day has been extended to May 17th – What does it mean for your IRA?

As I predicted, tax day is moving again this year! Last year (due to COVID) tax day was moved to July 15th. Today it’s not moving as much, but the IRS just announced tax day is May 17th this year. That means you have until that date to contribute to your 2020 IRA and file and pay any amount owed.‎

Fun fact: Did you know that if you are due a tax refund, there’s no penalty for filing your taxes late? But it is essentially giving the government a further interest-free loan, so I wouldn’t recommend it!‎

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.‎


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