HSA Contribution Extension for 2019
In response to the current conditions surrounding the COVID-19 pandemic, IRS Notice 2020-18 postpones the April 15, 2020 due date for filing federal income tax returns, deferring payments to July 15, 2020. The IRS has added information regarding this notice under “Filing and Payment Deadlines Questions and Answers” which addresses contribution extensions for those in Health Savings Account plans.
Contributions to your Health Savings Accounts (HSAs) can be made at any time during the year or by the due date for filing your tax returns for that particular year. However, with the due date for filing Federal income tax returns being extended to July 15, 2020, you may contribute to your HSA plan for 2019 up to July 15, 2020. Please note that the maximum annual contribution limits for 2019 remain the same ($3,500 for individuals and $7,000 for families).
Leave a ReplyWant to join the discussion?
Feel free to contribute!