16 Things Seniors Born Between 1941-1969 Could Take Advantage OfThe Internal Revenue Service announced today that individuals now have until May 17, 2021 to meet certain deadlines that would normally fall on April 15. But other deadlines remain April 15
Individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15 — such as making IRA contributions and filing certain claims for refund — according to an announcement today from the Internal Revenue Service.
Earlier this month the IRS postponed the federal income tax filing due date for individuals for the 2020 tax year from April 15, 2021, to May 17, 2021.
Extra Time to Make Contributions to IRAs and Health Savings Accounts
“In extending the deadline to file Form 1040 series returns to May 17, the IRS is automatically postponing to the same date the time for individuals to make 2020 contributions to their individual retirement arrangements (IRAs and Roth IRAs), health savings accounts (HSAs), Archer Medical Savings Accounts (Archer MSAs), and Coverdell education savings accounts (Coverdell ESAs),” the IRS wrote. “This postponement also automatically postpones to May 17, 2021, the time for reporting and payment of the 10% additional tax on amounts includible in gross income from 2020 distributions from IRAs or workplace-based retirement plans.”
The IRS notice also extends the due date for Form 5498 series returns related to these accounts to June 30, 2021.
No Extension on Estimated Tax Payment: Still Due April 15
The IRS notice today does not change the April 15, 2021, deadline for estimated tax payments which are still due on April 15.
Details on these and other extensions are in IRS Notice 2021-21 posted here:
https://www.irs.gov/pub/irs-drop/n-21-21.pdf
