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late filing

Forum|Forum|6 years ago
October 16, 2019
2 replies
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if i paid what I thought i owed in April, but need to call my financial advisor tomorrow about a Roth contributions, is is better to wait and file a day late or file tonight and do an amendment?

Best answer by Mark-S

A contribution to a ROTH IRA will have no impact on your tax obligation. So if you want to e-file, you'd better do it immediately (it is 10.30pm here in California). Now if you meant a contribution to a Traditional IRA, that would be different. Actually, no it wouldn't, sorry. Because you couldn't possibly deposit the contribution by midnight 10/15/2019. My suggestion is to e-file immediately. Then amend if there is something that could change your obligation. But I don't think there is unless you've got NOL being carried forward from a prior year.

M

Mark-SAnswer

A contribution to a ROTH IRA will have no impact on your tax obligation. So if you want to e-file, you'd better do it immediately (it is 10.30pm here in California). Now if you meant a contribution to a Traditional IRA, that would be different. Actually, no it wouldn't, sorry. Because you couldn't possibly deposit the contribution by midnight 10/15/2019. My suggestion is to e-file immediately. Then amend if there is something that could change your obligation. But I don't think there is unless you've got NOL being carried forward from a prior year.

B

b4ugosmileAuthor

thank you, i just filed, i will call my financial advisor and make adjustments, my mom passed away in 2016, things got complicated but its filed now and I can always make the correction. I think we did not contribute to a roth due to the financial restriction, but for the life of me I could not find out that info on my financial site, i called them in April now wondering if it got done. So now I will just have to fix the ROTH or IRA thing, but someone else said that should not affect my refund. Thanks so much for responding

2

22summertime16

I ended up submitting my taxes after 12.00. I am not getting a refund nor am I paying in. Will I be penalized?