By Pension and Benefits Editorial Staff
The IRS has extended the deadline for taxpayers to May 17, 2021, to make contributions to health savings accounts (HSAs) for the 2020 plan year. The IRS also extended the deadline for making contributions to individual retirement arrangements (IRAs and Roth IRAs), Archer medical savings accounts (Archer MSAs), and Coverdell education savings accounts (Coverdell ESAs).
The IRS has postponed the federal tax filing and payment deadlines, and associated interest, penalties, and additions to tax, for certain taxpayers who have been adversely affected by the COVID-19 pandemic. For individual taxpayers, the notice postpones to May 17, 2021, certain deadlines that would normally fall on April 15, 2021, such as the time for making IRA contributions and for filing federal income tax refund claims.
This postponement automatically delays the time for affected taxpayers to make contributions to their HSAs for 2020 to May 17, 2021, the IRS said.
SOURCE: Notice 2021-21, IR-2021-67, March 30, 2021.
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