<prompt> Human: For example, could I open a 2012 IRA and contribute to it enough to avoid paying some of the 300? Can I give it to some sort of charity? Any other ideas?Thank you for you help!  <response>: As uCedosg mentioned, you could still contribute to a 2012 IRA. However, if you are in the 15 bracket you would need to contribute 2000 in order to reduce your federal taxes by 300.However, Im not sure if I follow your reasoning. What if your W-4 had been perfect and you owed exactly 0 and got no refund. Would you not want to contribute to your IRA then? What about a Roth IRA? Employer matched 401k? What if youd gotten a refund? If you have money sitting around why havent you already contributed? What does that 300 tax bill have to do with anything?You shouldnt be doing things just to lower your tax bill. Save for retirement so that you can retire comfortably, and do so in the most tax efficient way possible. 