Important Tax Deadlines Fast Approaching

With everything that happened earlier this year the IRS delayed normal deadlines for filing and paying taxes from April 15th to July 15th.  This delay was part of Notice 2020-18 and below are items that need be done by next Wednesday, July 15th. 

1. File taxes for 2019 – You can file an extension if needed.

2. Pay taxes for 2019 – If you file an extension be aware your payment is still due if you owe.

3. Make HSA contributions for 2019 (limit of $3,500 for individuals and $7,000 for families).

4. Make Traditional and Roth IRA contributions for 2019 ($6,000 + $1,000 catch up if over 50 and subject to income limitations).

If you have any questions please talk with your tax advisor or contact us at financialplanning@bfsg.com.