Important 2016 Dates For Retirees

• April 1
  Take Your Require Minimum Distribution
  You generally have to start taking withdrawals from your IRA, SEP IRA, SIMPLE IRA, or retirement plan account when you reach age 70 ½ . Roth IRAs do not require withdrawals until after the death of the owner.
   
• April 18
  Federal Tax Filing Deadline
  The filing deadline and due date for Federal Income Tax Returns is April 18th.
   
• April 30
  Deadline to File and Suspend Social Security Benefits
  By May 1st, no one will be able to collect Social Security benefits during a suspension period, and the ability to request a lump-sum payout of suspended benefits will disappear. You have until then to file and suspend Social Security benefits under existing rules for anyone 66 or older.
   
• June 15 and September 15
  Deadline for Quarterly Taxes
  Second and Third quarterly tax payments are due.
   
• October 15
  Open Medicare Enrollment Begins
  Medicare Part D prescription drug plans will end December 7th. Retirees should review their coverage and shop for the best-priced plans because plans can change their list of covered drugs and prices from year to year.
   
• December 31
  Deadline for End-Of-Year Tax Moves
  You must take annual required minimum distributions from retirement plans, make any charitable donations that qualify for a tax deduction, as well as selling depreciated securities that can be used to offset investment gains.

-       Content prepared by Annie Albrecht, Worley Erhart-Graves Financial Advisors