Which deadlines have been extended till May 17th?
Which deadlines have been extended till May 17th?
I have already file my 2020 taxes.
But I have to leave town for a few weeks in a few days and want to get all other stuff done that is due by April 15;
1. 2020 contributions to a Roth IRA
2. 2020 contribution to an existing Roth solo 401K
3. Quarterly tax payment normally due in April
I think that the first 2 deadlines may be delayed for me till May 17th. But probably not the tax payment.
Has the IRS made a clear ruling on this stuff?
Thanks for any help. I would prefer to see good sources don't want to miss any deadlines.
But I have to leave town for a few weeks in a few days and want to get all other stuff done that is due by April 15;
1. 2020 contributions to a Roth IRA
2. 2020 contribution to an existing Roth solo 401K
3. Quarterly tax payment normally due in April
I think that the first 2 deadlines may be delayed for me till May 17th. But probably not the tax payment.
Has the IRS made a clear ruling on this stuff?
Thanks for any help. I would prefer to see good sources don't want to miss any deadlines.
Re: Which deadlines have been extended till May 17th?
This says the estimated tax payment is not delayed:
https://www.investopedia.com/irs-tax-pa ... 21-4800123
https://www.investopedia.com/irs-tax-pa ... 21-4800123
Re: Which deadlines have been extended till May 17th?
So far, I have not seen any advanced guidance docs on the IRS web site so I think the answer on IRAs is a bit cloudy. If I had to guess (which I do not) I would guess that they will align the IRA deadlines with the May date. I'd be inclined to get my return "finished" but not filed, set up the estimated payments in EFTPS (or Direct Pay), make the IRA contributions and then leave town.
I have done my 2020 pro-forma (and one for a friend) so we each can schedule ES payments. Our Federal returns aren't due until May and state returns in July (along with State ES). But in both our cases, our ES payments will be based on safe-harbor calculations from the pro-forma 2020 returns.
I have done my 2020 pro-forma (and one for a friend) so we each can schedule ES payments. Our Federal returns aren't due until May and state returns in July (along with State ES). But in both our cases, our ES payments will be based on safe-harbor calculations from the pro-forma 2020 returns.
When you discover that you are riding a dead horse, the best strategy is to dismount.
Re: Which deadlines have been extended till May 17th?
If the tax deadline is extended, does that mean the tax extension deadline is extended as well, or does that remain the same?
Re: Which deadlines have been extended till May 17th?
No, that remains the same. Even for 2019 tax returns, when the regular deadline was extended to July 15, 2020, an extension would still have only gotten you to October 15, 2020.
Re: Which deadlines have been extended till May 17th?
The deadline for retirement account contributions has been officially extended to May 17: https://www.irs.gov/pub/irs-drop/n-21-21.pdf
Re: Which deadlines have been extended till May 17th?
IRS extends additional tax deadlines for individuals to May 17 is written for us non-lawyers.
Rocket science is not “rocket science” to a rocket scientist, just as personal finance is not “rocket science” to a Boglehead.
Re: Which deadlines have been extended till May 17th?
That does not mention an extension for solo 401k accounts.calwatch wrote: ↑Tue Mar 30, 2021 3:21 am The deadline for retirement account contributions has been officially extended to May 17: https://www.irs.gov/pub/irs-drop/n-21-21.pdf
Re: Which deadlines have been extended till May 17th?
This blog claims the solo 401k contribution deadline has been extended, but it does not provide any direct evidence from the IRS.
https://www.mysolo401k.net/irs-extends- ... x%20return.
https://www.mysolo401k.net/irs-extends- ... x%20return.
- MN-Investor
- Posts: 475
- Joined: Mon May 02, 2011 9:04 am
- Location: Twin Cities
Re: Which deadlines have been extended till May 17th?
Just a reminder - !st Quarter Estimated Tax payments are due April 15. Their due date was NOT extended.
The key to success - Save early, save often, invest well.