@WBYeats,
WBYeats wrote:
Are they both correct?
A murder has just happened.
-The time of death was/is two hours ago/2:30pm (now being 4:30 pm)
They can be.
"The time of death was two hours ago/2:30pm" refers to the time when the death occured.
"The time of death is two hours ag0/2:30pm can refer to the reported time when the death occured. E.g, "the time of death is two hours ago/2:30pm on the police report."