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Is there a way to make an IRA contribution of say $x for 2016 (Deadline was April 15 2017)?

Background Info: The $x has already been claimed in taxes. But because of a technical error from the financial company, the contribution was not processed on time. Now the financial company refuses to apply the contribution for 2016. Are there any ways to avoid amending the tax filing?

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    Good question. Unfortunately I'd guess you probably will have to amend. I don't think the reason it was deposited late is relevant, except that maybe if the bank felt it was due to their own error they may be more inclined to fix it, but it sounds like they aren't...
    – TTT
    Jun 1 '17 at 15:23
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    The deadline was April 18 in 2017 and so you might be still be meeting the deadline especially if you sent the money by wire transfer and have proof that the financial company received the money by April 18. That they didn't credit to the proper account in timely fashion is their error, not yours, and you shouldn't be penalized for that..... Jun 1 '17 at 16:08
  • More details would be helpful, particularly as to the type and source of the error.
    – Joe
    Jun 1 '17 at 18:08
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If you reported your IRA contribution on your tax return, it should be deductible to the extent allowed by law. If the contribution was made before the deadline, and you can submit proof that you in fact made the contribution before the deadline, then the IRS should allow the contribution to count for 2016. If the contribution is considered late because the bank failed to send it on time, it should be considered an error on the bank's end, and in the worst-case scenario, you may be able to file an amended return, (Form 1040-X) to claim the contributions. However, as long as you have proof that you made the contributions on time, the bank should be responsible for any error in processing your contribution, and you should speak with a bank representative about how to correct the error. If problems with your tax return arise, it would be a good idea to speak with a CPA. Additionally, a CPA could advise you how to make the contributions for 2016 if it is at all possible.

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