Will opening an IRA before April 18, 2017 provide tax advantages for me for the tax year 2016?

[macuser_22]

Maybe.  Only Traditional IRA's are deducible if you are qualified for a deduction.  How much it will save depends on your margional tax bracket.  For example a $5,500 contribution could reduce your tax liability by about $1,100 if you are in the 20% tax bracket.

See this IRS link for IRA deduction limits when covered by a retirement plan at work.

https://www.irs.gov/Retirement-Plans/IRA-Deduction-Limits