Does anyone know if the IRA contribution deadline of 4/15 has also been moved to 7/15?

Forum|Forum|6 years ago
March 23, 2020
11 replies
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Best answer by BobKamman

Now is perhaps a good time for a reminder that IRS publications and unofficial announcements, along with $5, would buy you a cup of coffee if any Starbucks are open. We haven't seen the text of the Senate bill, and it has not been enacted. If it sets the filing date as July 15, and does not mention other deadlines like IRA and HSA, it is probably safe for federal tax purposes to delay funding an IRA. For state law, your mileage may vary.

IRS started out using the word "extension." Now, it is moving to "postponed." These eggs will probably hatch, but let's not start making chicken soup quite yet.

BobKamman

Level 15

https://proconnect.intuit.com/community/tax-talk/discussion/ira-contributions/00/70290

K

kaseyCPA

Level 4

From what I read, no - you have to contribute by 4/15. Estimates are also still due 4/15.

Accountant-Man

Level 13

First qtr estimates due July 15.

** I am "Elevating with Intention!"

N

NooshinAuthor

Level 3

Is this for sure?

BobKammanAnswer

Level 15

Now is perhaps a good time for a reminder that IRS publications and unofficial announcements, along with $5, would buy you a cup of coffee if any Starbucks are open. We haven't seen the text of the Senate bill, and it has not been enacted. If it sets the filing date as July 15, and does not mention other deadlines like IRA and HSA, it is probably safe for federal tax purposes to delay funding an IRA. For state law, your mileage may vary.

IRS started out using the word "extension." Now, it is moving to "postponed." These eggs will probably hatch, but let's not start making chicken soup quite yet.

M

meoleson

Level 6

I probably would refer my client to their financial advisor. Seems that those big companies have more lawyers and research departments than I or Intuit have.

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