by Mike Schiller, Consultant, Tax Advantaged Accounts, Wolters Kluwer
As you know, an individual’s tax-filing deadline for any year is generally April 15 of the following year. This is also the deadline for anyone that is eligible to contribute to an individual retirement account (IRA), Health Savings Account (HSA), or Coverdell Education Savings Account (CESA).
Because the Internal Revenue Code (IRC) provides that, when April 15 falls on a Saturday, Sunday, or legal holiday, a return is considered timely filed if it is filed on the next succeeding day that is not a Saturday, Sunday, or legal holiday. Because April 15, 2017 falls on a Saturday, and in 2017 Emancipation Day, a designated holiday in Washington D.C., will be recognized on Monday, April 17, the 2016 tax-filing due is Tuesday, April 18, 2017. The deadline for an individual to contribute to an IRA, HSA, or CESA is the same date.
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