Details on the Tax Deadline Extension

Due to the COVID-19 pandemic, the federal government has extended this year's tax filing deadline to May 17, 2021. This extension is automatic and applies to filing and payments. 

Some states, including Texas, Louisiana, and Oklahoma have extended their tax deadline to July 15, 2021 in response to severe storms and natural disasters.

This extension also applies to IRA and Roth IRA contributions. You now have until May 17th to make IRA contributions for the 2020 tax year. 

As a reminder, the standard IRA contribution limit for 2020 is $6,000, or $7,000 for those over 50.