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Money Savvy Weekend | Financial Planner

Checklist: Tax Deadlines

March 31, 2000|LIZ PULLIAM WESTON

Things to do this weekend with your money: April 17 isn't the only tax deadline that's looming. Retirees and property owners have some dates to remember, as well.

4 Today: IRA investors who turned 70 1/2 last year must make their first required minimum distribution by Monday (normally the deadline is April 1, which falls this year on a Saturday). Such investors must choose both a method of distribution and a beneficiary; their choices can have serious repercussions for their financial lives and their estate planning. For more details, consult a tax advisor or financial planner and read IRS Publication 590, "Individual Retirement Arrangements." Distributions are required from traditional IRAs only; there are no minimum distribution requirements from Roth IRAs.

4 Saturday: April 10 is the deadline for the second half of property tax payments. Late payments incur fees. Contact your county for more information. Property taxes are deductible for homeowners who itemize, but this year's taxes cannot be deducted until year 2000 returns are filed.

4 Sunday: Taxpayers also have two extra days to file and pay their 1999 taxes because April 15 falls on a Saturday. Those who need an extension should file IRS Form 4868 for a four-month federal and six-month state extension. The extension only gives additional time to file; taxpayers are required to estimate and pay any taxes due by April 17. For more information, visit http://www.latimes.com/taxes.

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