April 1 – Last Day to Withdraw Required Minimum Distribution

Last day to withdraw 2014’s required minimum distribution from Traditional or SEP IRAs for taxpayers who turned 70½ in 2014. Failing to make a timely withdrawal may result in a penalty equal to 50% of the amount that should have been withdrawn. Taxpayers who became 70½ before 2014 were required to make their 2014 IRA withdrawal by December 31, 2014.

April 10 –  Report Tips to Employer

If you are an employee who works for tips and received more than $20 in tips during March, you are required to report them to your employer on IRS Form 4070 no later than Read More