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    IRA Contribution Reminders

    Since the due date for filing 2022 federal (and New York) personal income tax returns is Tuesday, April 18, 2023, the due date for making IRA contributions for the 2022 tax year is also April 18, 2023.

    The dollar limit for 2022 IRA contributions remains $6,000 ($7,000 for those age 50 and older), and taxpayers must have earned income in order to make such contributions.

    For IRA contributions for the 2023 tax year, the dollar limit increases to $6,500 ($7,500 for those age 50 and older).

    The information provided herein is provided with the understanding that the author and publisher are not engaged in rendering legal, accounting or other professional service. As such, M + O = CPE, Inc. and the author disclaim any responsibility or liability for the information supplied herein or the application of said information.

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