IRS extends IRA contribution deadline

DEWITT, Mich. - March 31, 2021 - PRLog -- For 2021, May 17* is the big deadline during tax season, but other deadlines worth noting are set forth below. This tax calendar can help you be aware of some of the approaching deadlines.

* The IRS postponed from April 15, 2021, until May 17, 2021, the deadline for individual taxpayers to file a 2020 Federal income tax return and to pay 2020 Federal income tax due. The IRS has also extended the deadline to make 2020 contributions to a traditional or Roth IRA until May 17, 2021. For residents of Texas, Oklahoma and Louisiana, the filing, payment and contribution deadlines have been extended to June 15, 2021 due to the winter storms in February.

Important Dates

This is a 2021 tax calendar listing some of the approaching deadlines.

April 15, 2021 - First-quarter 2021 estimated Federal tax payments due

May 17, 2021 - Federal income tax-return filing and payment deadline:

• Individuals
• Farmers/fishermen making quarterly estimated tax payments (Note: first-quarter estimated payment is due April 15, 2021)
• Sole Proprietorships
• Federal filing deadline for nonprofit organizations
• Last day to make a 2020 contribution to your Edward Jones traditional or Roth IRA

May 31, 2021 - IRS deadline for Form 5498 to be furnished to clients

June 15, 2021 - Second quarter 2020 estimated tax payment due

Sept. 15, 2021 - Third-quarter 2020 estimated tax payment due

Oct. 15, 2021 - Federal tax-filing deadline for individuals who filed an extension

Note: All business entity deadlines listed are for calendar tax-year reporting with a Dec. 31 year-end. Different deadlines may apply for business entities reporting on a fiscal tax year.

For more details and updates visit Coronavirus Tax Relief and Tax Relief in Disaster Situations on the IRS website (www.irs.gov).

More questions?

For tax questions, consult your tax professional. For investment-related questions, please contact your local Edward Jones financial advisor.

Important Information:

Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation. This content should not be depended upon for other than broadly informational purposes. Specific questions should be referred to a qualified tax professional.