Momentum builds for delaying tax deadline

Ferrone & Associates CPAsBlog

Leaders of the House Ways and Means Committee and accounting groups are calling for extending the tax deadline to give the IRS, taxpayers and tax professionals an extra three months.

On Monday, the House Ways and Means Committee urged the IRS to extend the 2021 tax filing season until July 15, noting that the COVID-19 pandemic is continuing to impose a “titanic strain” on the agency as well as taxpayers. They pointed out that as of the end of February, the number of tax returns filed had declined nearly 25 percent compared to the same time last year, and the number of returns processed by the IRS was down 31 percent. In addition, only 27 percent of phone calls to the IRS are being answered, signaling that about three out of every four taxpayers who attempt to reach the IRS can’t reach anyone by phone.

Also on Monday, the National Conference of CPA Practitioners echoed calls in recent weeks from the National Association of Tax Professionals and the American Institute of CPAs for pushing back the tax deadline. Tax pros and the IRS are facing pressure after tax season was pushed back about three weeks this year to give the IRS time to send out the $600 Economic Impact Payments mandated by last December’s COVID-19 relief package. They pointed out that last year, tax season was extended by three months until July 15, 2020, and that many Americans continue to face the same health and economic challenges that necessitated an extension last year.

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