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5 Retirement Tax Deadlines to Plan For


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To take advantage of tax perks and avoid tax penalties, you need to meet IRS deadlines. Some retirement savings accounts must be utilized by Dec. 31, 2010, to get a tax break this year, while with others you have until April 15, 2011, to make your 2010 tax year deposits. Here are five important retirement tax deadlines to keep in mind:

December 31, 2010. Many retirement tax moves must be made by the end of the calendar year. Contributions to 401(k) and 403(b) plans need to be deposited by Dec. 31, 2010, to qualify for a tax break this year. Workers can defer taxes on up to $16,500 in an employer-sponsored retirement account in 2010, a limit that jumps to $22,000 for employees age 50 or older this year.

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