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ComplianceFinanceLegalTax & AccountingMarch 11, 2022

2021 IRA, HSA, and CESA regular contribution deadline

As you know, an individual’s tax-filing deadline, not including extensions, for any year is generally April 15 of the following year. This is also the deadline for an eligible individual to make an individual retirement account (IRA), Health Savings Account (HSA), or Coverdell Education Savings Account (CESA) regular contribution for the previous year.

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 Emancipation Day, a designated holiday in Washington D.C., will be recognized in 2022 on April 15, the 2021 tax-filing deadline for most individuals is Monday, April 18, 2022. For this reason, the deadline for most individuals to contribute to an IRA, HSA, or CESA for 2021 is also April 18, 2022.

Also, because Patriot’s Day, a holiday that is recognized in Maine and Massachusetts, falls on Monday, April 18, 2022, the 2021 tax-filing deadline and IRA, HSA, and CESA contribution deadline for residents of these two states is Tuesday, April 19, 2022.

For an opportunity to learn more about IRAs and other tax-advantaged accounts, including Health Savings Accounts and Coverdell Education Savings Accounts, consider the Wolters Kluwer IRA Library or on-demand video training offered on a variety of topics. Go here to learn more about training opportunities available to you or call us at 1-800-552-9408.
Mike Schiller
Manager, Specialized Consulting, Tax Advantaged Accounts
With more than 24 years of experience, Mike has worked closely with hundreds of financial organizations to help them create, implement, and maintain their tax-advantaged accounts program.
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