Income Tax Bulletin Board

Dates for 1999

Some important financial dates for 1999, according to the Institute of Certified Financial Planners:

* April 1: Last day to begin minimum withdrawals from an individual retirement account if you turned 70 1/2 in 1998.

* April 15: Due date for income tax returns or for extension application. Last day for tax-deductible IRA contributions that still count toward the 1998 tax year.

* Aug. 16: Deadline for submitting 1998 tax return and owed taxes if received an extension on April 15. Second extension application due.

* Oct. 15: Final deadline for submitting 1998 tax return if granted second extension.

* Dec. 31: Last day to open tax-deferred Keogh retirement plan and have contributions count toward 1999. Last day to give away as much as $10,000 per person free of gift tax; sell investments whose gains or losses will be counted in 1999; run up tax-deductible expenses, such as charitable contributions. Ability to use five-year forward averaging to spread out tax bite from a lump-sum distribution from a qualified retirement plan or IRA expires permanently. (Ten-year averaging still available for those born before 1936.)