WASHINGTON (AP) - In a story April 14, The Associated Press reported that taxpayers who file for an extension on their tax returns will be allowed to make 2008 IRA contributions as late as Oct. 15, 2009, well beyond the usual deadline of April 15, 2009. The story should have explained that only certain self-employed taxpayers can make 2008 IRA contributions after April 15 by getting a tax filing extension. Most taxpayers would still have to make those contributions by April 15, regardless of whether they filed for extensions on their taxes.
Please read our comment policy before commenting.