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M
Mountain Accountant
Level 3
May 26, 2020
Question

Will the 7/15 extension allow my S-Corp client to increase his 2019 SEP contribution to the maximum allowed (allowed 21K, he only pd. in 12K).

  • May 26, 2020
  • 12 replies
  • 14 views
The S-Corp return was filed timely, prior to 3/15/20.
This topic has been closed for replies.

12 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
May 26, 2020
So you DIDN'T file an extension prior to 3/15?
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
C
Conway1021
Level 3
May 26, 2020

If you already filed the return the new extended deadline is a moot point. 12K stands

    sjrcpa
    sjrcpa
    Level 15
    May 26, 2020

    But, could you file a superseding return and claim the larger SEP contribution?

    I think so.

    The more I know the more I don’t know.
      M
      msmith7305
      Level 6
      May 27, 2020

      Put me in the "disagree" column. If the taxpayer filed his 1120-S return prior to the Original due date but DID NOT request an extension prior to the original due date then he can not file a superseding tax return.

      Also remember, the change to July 15 does NOT cover returns due March 15th. They were still due March 15th.

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