The IRS Has Extended 2020 Retirement Account Contributions

Posted on: June 3, 2021   |   Category: In The News
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The IRS has provided automatic tax deadline extensions to people on a state-by-state basis. This includes the deadline to make 2020 IRA contributions. The good news for you is that you may still have time to open an account and get a deduction for 2020. Find out below if your state qualifies for the extension.

StateDeadline
TexasJune 15
West VirginiaJune 30
WashingtonAugust 2
TennesseeAugust 2
LouisianaJune 15
AlabamaAugust 2
KentuckyJune 30
OklahomaJune 15

Are you ready to get started?
You can set up an account online by clicking on the following link: Account Setup. Be prepared to upload a current copy of your photo ID. Also, you will be asked to name your IRA Beneficiaries (the individuals who will inherit the IRA), along with their contact information and social security number. The application should take no longer than 10 minutes to complete.

Speak With a Friendly Specialist
Opening a Self Directed IRA is a new venture for most people. Call today and speak with a Madison Specialist to get your questions answered. Contact us here