An Important Retirement Tax Deadline Is Fast Approaching. Here's What You Need to Know by Elizabeth O'Brien As Americans scramble to complete their taxes by April 15, certain older adults have an even sooner deadline to mind: April 1. It applies to people who turned 70 ½ in 2018 and who have money in traditional 401(k)s or IRAs. If that sounds like you, then Uncle Sam expects his share of your hard-earned savings.