Extended deadline for filing and funding SEP IRA - Spidell

Extended deadline for filing and funding SEP IRA

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Message Board Extended deadline for filing and funding SEP IRA

  • This topic has 5 replies, 5 voices, and was last updated 2 weeks ago by Heather Babcock.
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    • #224017
      Robert Johanson
      Participant

      Based on the flash mail just received: “The new federal filing extension means taxpayers will not file an extension on April 15, and that they will have until July 15 to file without extension.” It would seem that one would still need to file a 4/15 extension to avail themselves of extended 10/15 deadline benefits.

      Rob J

    • #224080
      Lynn Freer
      Participant

      See Notice 2020-18. It seems the SEP contribution date is extended.

    • #224554
      Cristina Park
      Participant

      Lynn, I cannot seem to find a specific reference to the SEP deadline in Notice 2020-18.  What am I missing?

    • #224566
      Larry Pon
      Participant

      How about IRA contributions?

    • #224579
      Lynn Freer
      Participant

      We aren’t sure about IRA contributions yet. Recommend making them pre 4/15 Expect something later re confirmation of extensions being filed in April or July. The CARE Act contains language to that effect but IRS notices are inferring no extension for 4/15 which I think means 7/15

    • #224946
      Heather Babcock
      Participant

      I am under the impression that the contributions are to be made by the deadline of the return.  In the code it does not give a specific date, just by the deadline or the extended deadline.  So if the deadline has been moved it would seem that the contributions can now be made by 7/15 or the later extended deadline of 10/15 if an extension is filed prior to 7/15.

       

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