April 15 Postponed: About To Happen

[BobKamman]

Bloomberg reports:

The Internal Revenue Service is planning to delay the April 15 tax filing deadline by about one month, giving taxpayers additional time to file returns and pay any outstanding levies, according to three people familiar with the discussions.

The agency is still figuring out what the final deadline will be, but it will likely be mid-May, according to the people who were not authorized to speak publicly because the decision had not been finalized.

The IRS and Treasury did not immediately respond to requests to comment on the delay.

[IRonMaN]

"according to the people who were not authorized to speak publicly"

That makes it sound authoritative 😳

[rbynaker]

---

@IRonMaN wrote:

"according to the people who were not authorized to speak publicly"

That makes it sound authoritative 😳

---

Or a sting operation.  "We know we have a leak, we've narrowed it down to these three possible individuals.  Tell Adam that we're talking about extending to 7/15, tell Brendon 6/15 and tell Charlie 5/15.  Whatever shows up in the news, that's our leak!"  Sorry Charlie.

[pamdory]

Dang! You beat me to the post!

I've thought May 15th should be a permanent change since brokerages were allowed to issue 1099s between 2/15 - 3/15.

[CUSO]

That is a really good point! 

[dkh]

Thank you @BobKamman     can always count on you to have the latest IRS newsbreaks.

[sjrcpa]

From Law360

March 17, 2021, 3:37 PM EDT

The IRS will push back the tax return filing deadline to May 17 from April 15 after being pressured for a delay because of the pandemic and the new $1.9 trillion relief law, two top House tax writers said Wednesday.

The one-month extension was announced by House Ways and Means Committee Chairman Richard Neal, D-Mass., and Oversight Subcommittee Chairman Bill Pascrell Jr., D-N.J. They said the delay was needed to give the public and practitioners more time to file tax returns due to hardships caused by the coronavirus pandemic and tax changes in the recently passed pandemic relief legislation.

The Internal Revenue Service and U.S. Department of the Treasury did not immediately confirm the delay.

"This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis," Neal and Pascrell said in a statement.

In January, IRS Commissioner Chuck Rettig said there were no plans to push the tax filing and payment deadlines beyond April 15 despite multiple requests by lawmakers and industry groups.

Representatives from Neal's and Pascrell's offices did not immediately respond to requests for comment.

[rbynaker]

Sounds like politics as usual.  Maybe they got this idea from a TV show.  Leak information to the press and the IRS will have to comply.  Hey, at least they tried asking nicely first.

[BobKamman]

From the Washington Post:  

The IRS shared the full scope of its backlog with the House Ways and Means Committee and the agency’s own government watchdogs. The numbers, obtained by The Washington Post, dwarf the data the IRS has shared with the public. The IRS communicated its plans to adjust the tax-filing deadline to House and Senate lawmakers on Wednesday, although the agency briefly stoked confusion about the exact date of the change.

(Translation:  Wait till tomorrow's hearing, when the excrement hits the ventilator)

[BobKamman]

https://waysandmeans.house.gov/media-center/press-releases/neal-pascrell-applaud-irs-tax-filing-exte... 

[BobKamman]

"The relief does not apply to the first-quarter 2021 estimated tax payments that many small business owners owe, however, the agency said. Those payments are still due on April 15. The IRS said it plans to issue more guidance in the coming days."

Gee. Thanks.  

[pamdory]

Deja vu all over again.

A week later the estimates get postponed as well when they realize their plan grants no relief.

[sjrcpa]

That sucks. Didn't last year's extended filing start out this way, too? I'm having a hard time remembering.

[pamdory]

Yep.  Remember how fun it was when the 2nd estimate was going to be due a month before the return and tax were due?

And that's not even counting all the hijinks with various states doing the same thing with we will/we won't.

sigh

[sjrcpa]

It's coming back to me now. I think I forgot it on purpose.

[sjrcpa]

It's official

Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline | Inter...