2016 IRA Contribution Due

Taxpayers eligible for IRA contribution have until April 18 to make a contribution for 2016.  Contributions mailed to the IRA trustee with a postmark on or before this date for 2016 are deemed to have been made on time.  It would be advisable to mail any such contributions by USPS or designated Private Delivery Services (PDS).  Excess IRA contributions for 2016, on the other hand, should be withdrawn with related earnings by the due date of your return, including extensions, to avoid the excess contribution penalty.