IRA, HSA, and CESA Contribution Reporting 2012-04-30
The tax-filing deadline for 2011 has passed, and so has the deadline for making individual retirement account (IRA), Health
Savings Account (HSA), and Coverdell Education Savings Account (CESA) contributions for 2011. Contributions to these tax-advantaged
accounts are reported to the Internal Revenue Service (IRS) and to the account owner.
Contributions to each respective account are reported on the following forms:
- IRA contributions are reported on IRS Form 5498, IRA Contribution Information
- HSA contributions are reported on IRS Form 5498-SA, HSA, Archer MSA, or Medicare Advantage MSA Information, and
- CESA contributions are reported on IRS Form 5498-ESA, Coverdell ESA Contribution Information
The deadline for filing Forms 5498 and 5498-SA with the IRS and to the participant is May 31, 2012. The deadline for filing
Form 5498-ESA with the IRS is May 31, 2012, but a copy must be sent to the account owner by April 30, 2012.
Severe Weather in WV Impacts IRA/HSA Deadlines2012-04-27 This Compliance Point supersedes previously posted Compliance Points relating to Presidentially Declared Disaster Area extensions
in West Virginia. Following are two previously posted Compliance Points that have been updated as a result of more counties
being added to the respective disaster area declaration.
Due to severe storms, tornadoes, flooding, mudslides, and landslides that started on February 29, 2012 in parts of West Virginia
the President has declared Harrison, Lincoln, Marion, Preston, Taylor, and Wayne counties in West Virginia a federal disaster
area.
Due to severe storms, flooding, mudslides, and landslides that started on March 15, 2012 in parts of West Virginia the President
has declared Lincoln, Logan, and Mingo counties in West Virginia a federal disaster area.
These declarations permit the internal Revenue Service (IRS) to postpone certain deadlines for taxpayers who reside or have
a business in either disaster area. Certain tax related deadlines falling on or after February 29, 2012 and on or before May
31, 2012 for taxpayers in Harrison, Lincoln, Marion, Preston, Taylor, and Wayne counties have been postponed to May 31, 2012.
Certain tax related deadlines falling on or after March 15 and on or before May 31, 2012 for taxpayers in Lincoln, Logan,
and Mingo counties have also been postponed to May 31, 2012. This includes the April 17th deadline for filing 2011 individual
income tax returns, making income tax payments, and making 2011 contributions to individual retirement accounts, Health Savings
Accounts, and Coverdell Education Savings Accounts.
For further information and to determine who is affected, go to the Tax Relief in Disaster Situations page on the IRS website and click on the appropriate news release in the Other Recent Tax Relief area.
2011 IRA and HSA Contribution Deadline2012-04-10
The deadline to make a regular contribution to a traditional or Roth individual retirement account (IRA), Health Savings Account
(HSA), or Coverdell Education Savings Account (CESA) is an individual’s tax filing due date excluding extensions. As a result,
for most years the deadline to make a contribution to an IRA, HSA, or CESA is April 15th of the following year. However,
if April 15th falls on a Saturday, Sunday, or legal holiday an individual’s tax filing due date is the next business day.
Because April 15, 2012 falls on a Sunday and April 16, 2012 is Emancipation Day, a recognized holiday in the District of Columbia,
the 2011 tax filing due date is Tuesday, April 17, 2012 and therefore the deadline to contribute to an IRA, HSA, or CESA for
2011 is the same date.
Severe Weather in WV Impacts IRA/HSA Deadlines2012-04-06 Due to severe storms, flooding, mudslides, and landslides that started on March 15, 2012 in parts of West Virginia the President
has declared Logan County in West Virginia a federal disaster area.
The declaration permits the Internal Revenue Service (IRS) to postpone certain deadlines for taxpayers who reside or have
a business in the disaster area. Certain tax related deadlines falling on or after March 15 and on or before May 31, 2012
have been postponed to May 31, 2012. This includes the April 17 deadline for filing 2011 individual income tax returns, making
income tax payments, and making 2011 contributions to individual retirement accounts, Health Savings Accounts, and Coverdell
Education Savings Accounts.
For further information and to determine who is affected, go to the Tax Relief in Disaster Situations page on the IRS website and click on the appropriate news release in the Other Recent Tax Relief area.
Weather in WV Impacts IRA/HSA Deadlines2012-03-22 Due to severe storms, tornadoes, flooding, mudslides, and landslides that started on February 29, 2012 in parts of West Virginia
the President has declared Lincoln, Marion, and Wayne counties in West Virginia a federal disaster area.
The declaration permits the internal Revenue Service (IRS) to postpone certain deadlines for taxpayers who reside or have
a business in the disaster area. Certain tax related deadlines falling on or after February 29, 2012 and on or before May
31, 2012 have been postponed to May 31, 2012. This includes the April 17th deadline for filing 2011 individual income tax
returns, making income tax payments, and making 2011 contributions to individual retirement accounts, Health Savings Accounts,
and Coverdell Education Savings Accounts.
For further information and to determine who is affected, go to the Tax Relief in Disaster Situations page on the IRS website and click on the appropriate news release in the Other Recent Tax Relief area.
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