AICPA
IRS Asked to Postpone Tax Filing and Payment Deadline until June 15, 2021
In a letter to the Department of the Treasury and the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) called for the extension of the filing and payment deadline for the 2020 tax year until June 15, 2021.
Mar. 04, 2021
In a letter to the Department of the Treasury and the Internal Revenue Service (IRS), the American Institute of CPAs (AICPA) called for the extension of the filing and payment deadline for the 2020 tax year until June 15, 2021.
Last year, the IRS acknowledged the challenges created by the ongoing pandemic during the 2019 tax year by announcing a payment and filing deadline extension. Those challenges and more still exist in the system, and taxpayers are struggling to resolve issues related to 2019 tax returns due to the IRS inventory backlog.
The AICPA believes that more should be done for taxpayers during this filing season stating in the letter, “…in the current environment, it is simply not possible for many taxpayers and their tax advisers to meet their filing and payment obligations that are due on April 15.”
The letter also recognizes the difficulties a postponement of the filing and payment deadlines could create; however, COVID-19 and other circumstances necessitate action to ensure that the millions of affected taxpayers have sufficient time to meet their tax obligations.
“The effect of numerous legislative changes overloading tax busy season compels us to speak up now,” said AICPA Vice President of Taxation, Edward Karl, CPA, CGMA. “We understand that there are some challenges associated with extending the payment and filing deadlines. However, time is a critical factor. Taxpayers and tax professionals need this postponement, and they need to have certainty about the filing date now.”