Tax Day should have been Apr 17 this year. But, the IRS has given taxpayers an additional day to file and pay returns after the webpage for paying tax bills using their bank account crashed.

Tax Day has always been special for the stock market. Estimates are that 15% to 33% of all tax filers wait for this day to fund their IRAs. After all, IRAs are a basket of various asset classes, including stocks in which individuals invest to prepare for retirement.

Play the Tax Season With These 3 Mutual Funds

Given that the aforesaid sectors are poised to make the most of the upcoming bullishness, investing in mutual funds from the same will be judicious. And why not? Trump administration's initiative to cut tax rates has provided the much-needed windfall to tech companies, while a recent move by the Fed to raise rates bodes well for financials. Firm business investment, in the meantime, helped factories expand at a record pace. Manufacturers are also on a hiring spree and are paying more than other jobs, reflecting sustained strength in the sector.

These funds carry a Zacks Mutual Fund Rank #1 (Strong Buy) or 2 (Buy). The question here is: why should investors consider mutual funds? Reduced transaction costs and diversification of portfolio without several commission charges that are associated with stock purchases are primarily why one should be parking money in mutual funds.