05/14/2020: Tax / IRA / HSA Filing Vs. COVID-19

Due to the outbreak of COVID-19, the federal tax filing deadline has been extended to July 15, 2020 by the IRS. The Illinois Department of Revenue (IDOR) has also extended the state income tax return deadline and is giving penalty relief from April 15, 2020, to July 15, 2020.

Because the due date for filing federal income tax returns has been pushed back to July 15, 2020, the deadline for making contributions to your IRA for 2019 has also been pushed back to July 15, 2020.

You may also make contributions to your Health Savings Account until July 15, 2020.