Detailed text transcripts for TV channel - CNN - 20110410:20:15:00
With respect to seps, there is an extension. employees can adopt sep plans up until the filing of their tax return for the business, which could be until september of 2011, depending on the particular facts of the situation. the deadline for conversion for 2010 has, in fact, passed. but you can convert at any time in order to have the amounts treated as post tax. that means that the full amount in the i.r.a. would be taxable in the year of conversion. but when the money would come out, the increment thereon, the interest, would be fully tax free. that is why people make the conversion. >> okay...
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