Permalink Submitted by mk foss on Mon, 2013-05-06 18:30
SEP Contributions must be made by the due date of the self-employed person’s tax return. That would be April 15 in many cases or October 15 if the return is extneded. The return could be extended and filed shortly after April 15 and the additional six month period is still available.
Permalink Submitted by Alan - IRA critic on Mon, 2013-05-06 21:35
The application of Sec 301.9100-2 (automatic 6 month extension) would appear to allow the timely 1040 filing to replace the extension request when this Reg is referenced on the amended return (ie “filed pursuant to Sec 301-9100-2” on the top of the return. I cannot locate any specific reference why this Reg would NOT apply to extending the due date for a SEP contribution, but the IRS appears to imply that it does not and the extension must be filed. ????
Permalink Submitted by Alan - IRA critic on Mon, 2013-05-06 15:19
Yes, they have until 10/15 if they filed their return on time OR filed an extension.
Permalink Submitted by mk foss on Mon, 2013-05-06 18:30
SEP Contributions must be made by the due date of the self-employed person’s tax return. That would be April 15 in many cases or October 15 if the return is extneded. The return could be extended and filed shortly after April 15 and the additional six month period is still available.
Permalink Submitted by Alan - IRA critic on Mon, 2013-05-06 21:35
The application of Sec 301.9100-2 (automatic 6 month extension) would appear to allow the timely 1040 filing to replace the extension request when this Reg is referenced on the amended return (ie “filed pursuant to Sec 301-9100-2” on the top of the return. I cannot locate any specific reference why this Reg would NOT apply to extending the due date for a SEP contribution, but the IRS appears to imply that it does not and the extension must be filed. ????