Future retirees have long grappled with whether to opt for a traditional or Roth IRA. Those who have a traditional IRA and have seen a decline in the value of their investments may want to consider a conversion to a Roth. This article reviews how these accounts work and the strategy in question.
The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days.