2020 Taxes Delayed – Are 2020 IRA contributions also delayed?
I understand the IRS has delayed individual 2020 tax returns and payments until May 17.
Have you heard if the IRS has decided whether 2020 IRA contributions also delayed?
Thank you.
I understand the IRS has delayed individual 2020 tax returns and payments until May 17.
Have you heard if the IRS has decided whether 2020 IRA contributions also delayed?
Thank you.
Permalink Submitted by Alan - IRA critic on Fri, 2021-03-19 23:32
Unless they state otherwise, extension of the tax filing date would automatically extend the contribution deadline. The IRS did state that the due date for the first estimated tax payment will remain 4/15. Even if the IRA contribution date is extended, an IRA custodian is not required to follow suit. Unless this question has been fully clarified by around 4/20 and the outside chance that your custodian might not extend their contribution date (due to systems issues), I would check with your custodian at that time.