Take note of these key tax-related deadlines
The April 18 tax-filing deadline is drawing near. Make sure you're prepared for that and some other important tax-related dates by reviewing the information in the table below.
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||If you turned 70½ in 2010, you'll generally have until April 1, 2011, to take your first required minimum distribution (RMD) from your retirement accounts—including traditional IRAs, SIMPLE or SEP-IRAs, and employer-sponsored plans. (RMDs are not required for Roth IRAs during the original account owner's lifetime.) Remember that you'll also need to satisfy your 2011 RMD by December 31, 2011, so if you've delayed your 2010 RMD, you'll wind up taking two distributions this year.
Need help? Find out about Vanguard's free RMD Service, which can calculate and distribute your RMD amount.
||Because of a legal holiday in the District of Columbia, the deadline for filing your 2010 federal income tax return (or requesting an extension with Form 4868) is Monday, April 18, 2011. For state and local tax deadlines, consult the appropriate taxing authority.
April 18 is also your final opportunity to make a 2010 IRA contribution—learn how to open a Vanguard IRA® or contribute to your existing IRA.
If you file your federal tax return (or request an extension) by April 18, 2011, you receive an automatic extension until October 17, 2011, to remove any excess 2010 contributions from a retirement account or recharacterize assets you contributed to a traditional or Roth IRA in 2010.
If you filed Form 4868 for a federal tax-filing extension by April 18, 2011, this is your new deadline for filing your 2010 return.
If you filed your return—or requested an extension—by April 18, this is also your deadline to:
- Remove an excess contribution from a retirement account without incurring a 6% penalty tax. (Earnings generated by excess contributions are subject to taxes and a possible premature withdrawal penalty of 10%.)
- Recharacterize assets that you contributed to a traditional or Roth IRA in 2010.
- Recharacterize assets that you converted from a traditional to a Roth IRA in 2010.
||This is generally the deadline for taking RMDs from your traditional IRA or employer-sponsored retirement plan, unless it's your first RMD because you turned 70½ in 2010 (see the April 1 entry above).
Need help? Vanguard's free RMD Service can calculate and distribute your RMD amount.
Visit our Tax Center for helpful information
Our Tax Center has many tips, tools, and resources to help you during tax time:
- We recommend that you consult an independent tax advisor for specific advice about your individual situation.
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