OUR CALENDAR & KEY PLANNING DATES

2023 NYSE Holidays

  • New Year's Day
    Monday, January 2 (New Year's holiday observed)
  • Martin Luther King, Jr. Day
    Monday, January 16
  • Washington's Birthday
    Monday, February 20
  • Good Friday
    Friday, April 7
  • Memorial Day
    Monday, May 29
  • Juneteenth National Independence Day
    Monday, June 19
  • Independence Day
    Tuesday, July 4**
  • Labor Day
    Monday, September 4
  • Thanksgiving Day
    Thursday, November 23***
  • Christmas Day
    Monday, December 25

2024 NYSE Holidays

  • New Year's Day
    Monday, January 1
  • Martin Luther King, Jr. Day
    Monday, January 15
  • Washington's Birthday
    Monday, February 19
  • Good Friday
    Friday, March 29
  • Memorial Day
    Monday, May 27
  • Juneteenth National Independence Day
    Wednesday, June 19
  • Independence Day
    Thursday, July 4**
  • Labor Day
    Monday, September 2
  • Thanksgiving Day
    Thursday, November 28***
  • Christmas Day
    Wednesday, December 25****
*No holiday observed, pursuant to NYSE Rule 7.2, NYSE American Rule 7.2E, NYSE Arca Rules 7.2-O and 7.2-E, NYSE Chicago Rule 7.2, and NYSE National Rule 7.2. **Each market will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Monday, July 3, 2023, and Wednesday, July 3, 2024. Crossing Session orders will be accepted beginning at 1:00 p.m. for continuous executions until 1:30 p.m. on these dates, and NYSE American Equities, NYSE Arca Equities, NYSE Chicago, and NYSE National late trading sessions will close at 5:00 pm. All times are Eastern Time. ***Each market will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Friday, November 25, 2022, Friday, November 24, 2023, and Friday, November 29, 2024 (the day after Thanksgiving). Crossing Session orders will be accepted beginning at 1:00 p.m. for continuous executions until 1:30 p.m. on these dates, and NYSE American Equities, NYSE Arca Equities, NYSE Chicago, and NYSE National late trading sessions will close at 5:00 pm. All times are Eastern Time. ****Each market will close early at 1:00 p.m. (1:15 p.m. for eligible options) on Tuesday, December 24, 2024. Crossing Session orders will be accepted beginning at 1:00 p.m. for continuous executions until 1:30 p.m. on this date, and NYSE American Equities, NYSE Arca Equities, NYSE Chicago, and NYSE National late trading sessions will close at 5:00 pm. All times are Eastern Time.

UPCOMING FOMC Meetings

If you are interested in knowing economic data the minute it becomes available, mark your calendar with the following release dates for Federal Open Market Committee meetings, and announcements for gross domestic product (GDP), Consumer Price Index (CPI), and employment numbers.

2023

  • January 31
  • February 1
  • March 21-22*
  • May 2-3
  • June 13-14*
  • July 25-26
  • September 19-20*
  • October 31
  • November 1
  • December 12-13*

* Meeting associated with a Summary of Economic Projections and a press conference by the Chair.
Sources: Federal Reserve opens in a new tab ; Bureau of Economic Analysis opens in a new tab; Bureau of Labor Statistics opens in a new tab

CALENDAR FOR IRAS AND RETIREMENT PLANS

  • April 1Last day of grace period for first IRA required minimum distribution for clients who turned 70½ last year
  • September 30- Last day for plan sponsors to establish a new SIMPLE IRA - Last day for plan sponsors to issue summary annual reports to participants (or nine months after last day of plan year)
  • September 30- Last day for plan sponsors to establish a new SIMPLE IRA - Last day for plan sponsors to issue summary annual reports to participants (or nine months after last day of plan year)
  • October 15- Last day to recharacterize a converted IRA from last year - Last day to contribute to SEP or Keogh for last year if extension was filed (note: contribution must be made before tax return is filed)

TAX DEADLINES

Most of the usual tax deadlines fall on a weekday this year, so there are few changes from the standard tax calendar. If you have doubts about anything to do with taxes or the appropriate deadlines, check with a tax advisor.

  • Jan. 15 Fourth installment of previous year's estimated taxes due. If tax return is filed by Jan. 31, fourth installment can be made at that time.
  • Jan. 31 1099s must be sent to recipients so they can be checked for accuracy.
  • Feb. 28 Deadline for submitting 1099s to IRS
  • April 15
    • Tax filing deadline
    • Tax returns are due, and balance of tax for previous year must be paid. U.S. citizens working out of the country have an automatic extension to June 15. All others can request an automatic six-month extension to Oct. 15 using Form 4868, although balance of tax is still due on this date.
    • First installment of 2017 taxes due (see IRS Publication 505, "Tax Withholding and Estimated Tax")
    • Last day to file an amended tax return for 3 years prior.
  • June 15 Second installment of estimated taxes due. Tax returns due for U.S. citizens working outside the country (may request four-month extension to Oct. 15).
  • Sept. 15 Third installment of estimated taxes due.
  • Oct. 15 Tax returns due for those who requested an extension.
  • Dec. 31 Last day to pay expenses for itemized deductions (items charged on credit cards count, even if paid off later).

INVESTING AND TAX PLANNING

Tax planning for investments should be a year-round activity, but things come up toward the end of the year.Make sure you and tax advisor review portfolio holdings a good two months or so before these deadlines and think through potential strategies.

  • Oct.1Mutual fund year-end distributions begin.Watch dates and plan purchases around them.
  • Nov.30Last day for doubling up to avoid wash sale rule.
  • Dec.31Last day to sell stock and realize gain/loss.

COLLEGE PLANNING

College costs are skyrocketing, and it's foolish to pay more just because of a missed deadline.

  • Jan.1 to March 1.FAFSA filing period.Estimated data may be used if all tax information has not been received (early filing is recommended).
  • April 15 Last day for Coverdell ESA contributions.
  • Dec.31
    • Last day for college expenses to qualify for Hope or lifetime learning credit; consider prepaying next year's expenses to claim full credit
    • Last day for 529 plan contributions and take state tax deduction (if applicable)

CHARITABLE/GIFT PLANNING

It's always best to budget in charitable gifts throughout the year, but year-end tax planning may require some last-minute transactions.
  • Establish a Keogh plan for this year (contribution is due by the date tax return is filed or no later than Oct. 15, of the following year, if extension is requested)
  • Establish and fund a solo 401(k) for this year
  • Complete this year's contributions to employer-sponsored 401(k) plans
  • Take this year's required minimum distributions from IRAs
  • Correct excess contributions to IRA, Coverdell, and qualified plans to avoid penalty
Dec. 31
  • Last day to make tax-deductible contributions to charities
  • Last day to make annual tax-free gifts of $17,000 per person

Investment and Insurance Products are:

  • Not Insured by the FDIC or Any Federal Government Agency
  • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank Affiliate
  • Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

This information is intended for use only by residents of (AL, CA, DE, FL, GA, MD, NC, NY, PA, SC, VA, VT, WV). Securities-related services may not be provided to individuals residing in any state not listed above. Please consult with the FA as s/he may not be registered in all states.

For parties residing outside of the U.S., this information is: (i) provided for informational purposes only, (ii) not and should not be construed in any manner as an offer to participate in any investment or to buy or sell any securities or related financial instruments, and (iii) not and should not be construed in any manner as a public offering of any financial services, securities or related financial instruments. Products and services listed may not be available, or may have restrictions, depending on client country of residence.

Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN). Wells Fargo Advisors is the trade name used by Wells Fargo Clearing Services, LLC and WFAFN, Members SIPC, separate registered broker-dealers and non-bank affiliates of Wells Fargo & Company. Any other referenced entity is a separate entity from WFAFN.

Insurance products are offered through nonbank insurance agency affiliates of Wells Fargo & Company and are underwritten by unaffiliated insurance companies.

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