Looking at the period from the first of June through this writing on July 9th, it is easy to see that the economy is sending mixed messages.
As part of the CARES Act, Congress expanded distribution rules and added favorable tax treatment for 401k’s and IRAs.
In the last days of May, there appeared to be a disconnect between economic reality and the stock market. The market moved higher amid alarming economic numbers.
The IRS has extended the filing deadline to July 15, 2020 which extends the IRA contribution deadline as a result.