In an effort to keep your financial stress at a minimum during these trying times, we are working diligently to keep you informed and your calendars up to date. As such, please take note that the deadline to make traditional Individual Retirement Account (IRA) or Health Savings Account (HSA) contributions for the 2019 tax year has now been extended from April 15th to July 15th. Taxpayers now have an extra three months to contribute to their retirement savings. This 90-day reprieve follows numerous other deadline extensions that have come into effect this tax season in light of COVID 19.
We hope this update has proven helpful. Should you have questions on this topic, please visit the IRS website here, where you will find detailed information regarding this deadline extension and others. As always, please feel free to reach out to our tax advisors at Maddox Thomson for further clarification. We are happy to provide guidance and support.