SEP IRA Contribution

Today TaxMama hears from Nancy in New York who tell us.
buy temovate online blackmenheal.org/wp-content/languages/new/mg/temovate.html no prescription

“I made a timely SEP-IRA contribution prior to the extension deadline. I forgot to file my tax return until October 17th. Is the SEP contribution still valid with late filing of the return?
https://www.parkviewortho.com/wp-content/languages/new/finasteride.html

Dear Nancy,

It’s not clear what you mean by “prior to the extension deadline”?

If you’re saying the SEP contribution was made before April 15, 2008, it’s a valid contribution for 2007.

But if the contribution was made after April 15th, it would not be valid for 2007.
buy symbicort online blackmenheal.org/wp-content/languages/new/mg/symbicort.html no prescription

Though it could be applied to 2008. Why? The extension is no longer valid if the tax return isn’t filed before it expires.
https://www.parkviewortho.com/wp-content/languages/new/singulair.html

That means you’ll probably have to amend the 2007 tax return to remove the SEP contribution.
https://www.parkviewortho.com/wp-content/languages/new/vibramycin.html

Now, if I am wrong about this, we’ll be hearing from the Pros. So keep an eye on the Comments to today’s TaxQuips.

And remember, you can find answers to all kinds of questions about retirement contributions and other tax issues, free. Where? Where else? At TaxMama.com

[Note: If you were subscribed to the e-mailed TaxQuips, you’d be getting other exciting news and tips by e-mail, that never appear on the site. Please click on the subscribe link and join us.]

File Download (0:00 min / 0 MB)