As the extended July 15 deadline for filing approaches, the AICPA recently reached out to its tax section members to find out whether they think they’ll be ready in a few weeks or whether they believe the IRS should consider delaying the deadline once again. While the majority of the more than 1,000 commenters said they would be ready and able to file returns or extensions for their clients by the July 15 due date, many wanted the IRS to move the due date to October 15 or later.
Among those advocating for a firm July 15 deadline, many expressed concern that clients would simply procrastinate if given more time, with some arguing about the inconvenience of tax returns hanging over their heads for almost the entire year if the date gets postponed again. On the other side of the divide, proponents of another extension said that many of their clients are in bad shape due to the pandemic and a later date would help them meet their obligations, while others noted that clients have been more focused on keeping themselves and their families safe, with things like work and taxes coming in a distant second place.
In the end, citing both the importance of providing certainty for clients in the context of having a target date that needs to be met and the practical concern of federal and state extensions not necessarily lining up, the AICPA’s Tax Executive Committee indicated that it will not advocate for another delay of the deadline at this time.