AICPA Joins Calls to Extend Tax Deadline

By:
Chris Gaetano
Published Date:
Mar 5, 2021
GettyImages-1094362714 Tax Day Filing Deadline Personal Income

The AICPA, in a recent letter to the Department of the Treasury and the IRS, called for an extension of the filing and payment deadline for the 2020 tax year until June 15, 2021. It said in the letter that "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.” While the AICPA noted the difficulties a postponement of the filing and payment deadlines could create, it said that 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. “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.”

The AICPA joins the House Ways and Means Committee, which also recently called on the IRS to extend the deadline as it did last year. In a letter of its own, the committee noted that the deadline was extended to July 15 due to the practical challenges brought about by the pandemic, and said that, one year later, many of these challenges still remain. Given this circumstance, the lawmakers thought it made sense, once again, to move the deadline in a similar manner, although it did not specify a new date, simply saying it should be moved "beyond April 15."

But IRS Commissioner Charles Rettig has pushed back on this idea, first during congressional testimony last month and again on Wednesday. The ultimate decision, however, rests with Treasury Secretary Janet Yellen.

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