Has anyone filed taxes before march 5th and still processing?
AP dead or Obi dead?
https://www.dansdeals.com/more/coronavirus/tax-day-likely-moved-may-17th/
This is being widely reported
Does this extension also apply to the deadline for 2020 IRA contribution?
Answer: Yes it does. HT: cgr
Source?
Yes. One can fund up to 12K for both spouses (Under 50 YO) for 2020 until the tax deadline (which will also lower AGI if eligible for TIRA)
What's TIRA? Traditional IRA?
You can fund a TIRA after processing your return?
Correct
Got it. RIRA won't lower AGI? Only TIRA will?
Correct.
Can you post a link/source please? I cant find this distinction anywhere online.
Roth IRA uses post tax dollars so it will not impact you AGI. Traditional IRA uses pre tax dollars so it will lower your AGI.