IRAs play an important role in helping your clients achieve long-term financial goals. With the extension of tax season, this window of opportunity remains open.
On March 18, 2020, in response to the President’s COVID-19 Emergency Declaration, the Department of the Treasury and the Internal Revenue Service issued a Notice extending the normal Federal tax filing deadline from April 15 to July 15. In addition to extending the Federal filing deadline this notice also allows…
- Tax deductible IRA contributions for 2019
- Tax deductible contributions to a Health Savings Account (HSA)
- Employer business contributions to qualified plans
- Employer set up and implementation of a Simplified Employee Pension Plan (SEP-IRA)
…up to the July 15 deadline.