
Clock's Ticking to Fix Your Roth From Last Year
A common retirement planning tax strategy is to convert money from an IRA account to a Roth IRA. In doing so you pay taxes on the amount converted now, and in return, get tax-free principal and earnings in the Roth in the future. Sometimes this conversion doesn't turn out the way you expected when you did the conversion. The IRS allows you to generally reverse course by October 15th of the following year. Therefore, if you've made a conversion and are looking to correct it, time is running out for a conversion done in 2017.