I'm in the odd position this year of expecting a large tax refund (>$10K). I also have not maxed out my 2015 IRA. Lastly I don't have a ton of extra money on hand and don't expect to before April (A large percentage of my annual salary comes at the end of May).
Given these facts, which I believe are true:
- One can contribute to last year's IRA until April 15
- Fidelity doesn't send the IRS info about your contributions until some time in May
- One can file taxes early (January) and get the rebate hopefully very quickly if one files electronically
Can I file my taxes right away, filling in the IRA contribution amount at the amount I expect to contribute but have not yet done, then get my tax rebate and use that money to contribute to my 2015 IRA some time before April 15? Assume that I cannot make this contribution amount without the refund.
Any gotchas I haven't thought of? I've never filed early before so I'm not sure what the probability of not getting your refund quickly is.