NATP Supports Quarterly Tax Installment Payment Plans

The National Association of Tax Professionals (NATP) sent a letter to Representative Debbie Lesko (R-AZ-08) in support of the proposed Tax Deadline Simplification Act, which will amend the Internal Revenue Code (IRC) to have estimated income tax installments paid on a quarterly basis.

“This change would annualize income, which would make the system more representative of a four-quarter basis,” said NATP Executive Director Scott Artman. “This bill will ease tax planning, improve taxpayer compliance and decrease the taxpayer burden, all of which benefit taxpayers and the trained professionals who prepare their returns.”

Through its first-hand, regular interaction with the country’s federal tax preparers, NATP hears from its members how the current payment schedule can be confusing for their clients as the current schedule is not based on true quarters that other tax collection systems, such as payroll, follow.