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

Level 1
 
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Level 11

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.  

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Level 3

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

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Level 11

First qtr estimates due July 15.

** I'm still a champion... of the world! Even without The Lounge.
Level 1

Is this for sure?

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Level 15

Yes Q1 2020 estimated tax payments are due 7/15/2020


ex-AllStar
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Level 11

@sjrcpa wrote:

Yes Q1 2020 estimated tax payments are due 7/15/2020


Yep.  That's the rule at the moment anyway.  Looks like the Senate couldn't get their act together on this today, but I expect at some point Q1, 2 and 3 will be due 10/15.  So I'm not carving anything in stone just yet.  For now I'll continue to give folks 4 vouchers and let them know later when they're actually due.  The state rules will be all over the place on this anyway.

 

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Level 3

Like nailing jello to a tree. Still moving - 

Level 11

No, now IRAs can be done by July 15.

FYI, read the Intuit messages they send you.

** I'm still a champion... of the world! Even without The Lounge.
Level 7

Q&A on IRS site Notice 2020-18 indicated IRA for 2019 deadline was moved to July 15.

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Level 11

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.  

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Level 5

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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