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WKBT February 22, 2021 7:46 AM newsfeedback@fool.com (Kailey Hagen) Posted: Updated: February 24, 2021 7:31 PM What if I told you there’s a legal way to shield more of your hard-earned cash from the IRS, and the government might actually reward you for taking advantage of it? Well, there is. If you have a little extra cash you won’t need anytime soon, you can make a prior-year traditional IRA contribution and reap the benefits now and in retirement. Here’s a closer look at how it works and what kind of a difference it can make for your taxes. What’s a prior-year IRA contribution?

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