IRS Extends Contribution Due Dates for IRAs and HSAs to May 17

Following an announcement from the Internal Revenue Service earlier this month extending the filing date for individual tax returns from April 15 to May 17, the IRS yesterday issued additional guidance on the extension. Among other things, the IRS confirmed that the due dates for contributions to individual retirement arrangements, health savings accounts and other similar savings accounts have been extended to May 17.

The IRS also confirmed that that the extended due date only applies to individual income tax returns and certain related filings. The due date for the Form 5498 series of information returns, normally due on June 1, has been extended to June 30.

While the date for payments due with individual tax returns has been extended, the IRS said that the due date for other payments of tax, including estimated tax payments has not been extended from April 15. Read the announcement.