Internal Revenue Service (IRS)

AICPA and NAEA demand universal filing and payment relief

In a letter to the treasury and IRS, the groups expressed disappointment in the announcement to extend the filing deadline, but not the estimated payment deadline, to May 17

The American Institute of CPAs (AICPA) and the National Association of Enrolled Agents (NAEA) are calling for filing and payment relief for all taxpayers in 2021.

In a letter to the treasury and IRS, the two groups representing tax professionals expressed disappointment in the announcement to extend the filing deadline, but not the estimated payment deadline, to May 17.

According to the groups, this excludes many more taxpayers and discriminates against different types of taxpayers.

The letter stated: “In particular, the announcement ignores challenges many small businesses and other taxpayers have suffered as a result of the pandemic.

“(The decision) fails to recognize the millions of small businesses and the self-employed taxpayers, such as Instacart workers and Uber drivers, that have faced unheard of hardships and economic challenges caused by the coronavirus pandemic and must calculate and make estimated payments.”

Nina Tross, executive director of the National Society of Tax Professionals (NSTP), said: “NSTP feels that it would be in the best interest of the American taxpayer to have consistency within the tax filing requirements.

“The first estimated tax payment due date for the current year should coincide with the due date of the prior tax return – and this becomes particularly important if the taxpayer plans to apply any overpayment on their 2020 tax return to the current year taxes so that it would be considered a timely payment.”

She added: “Matching due dates would also assist with tax planning for the current year and determining the appropriate amount of estimated taxes that would be due for 2021.”

Back to top button