Earlier in March, the IRS announced that the 2020 federal income tax filing deadlines were extended for individuals to May 17, 2021. Some states, including Maine and South Carolina, have also extended their 2020 individual income tax deadline to May 17, 2021. It is important to note that the IRS did not extend the deadline for any estimated tax payments due on April 15, 2021.
Yesterday, the IRS announced that it would also be extending other important deadlines to May 17, 2021. Those extensions included the deadlines for making 2020 contributions to individual retirement accounts (both Traditional and Roth IRAs) and health savings accounts (HSAs).
Please click here for additional information regarding these extensions. Please reach out to your tax professional as appropriate if you have any questions regarding these changes or to see about your eligibility.