CPA Group Urges IRS to Extend Penalty Relief Deadline to Dec. 31

The American Institute of CPAs is urging the IRS to extend the deadline by which certain tax forms have to be filed in order to qualify for recently announced pandemic-related penalty relief.

The IRS last week said that it was providing penalty relief for returns for the 2019 and 2020 tax years that are filed by Sept. 30. AICPA praised that decision, but asked that the Sept. 30 deadline be extended to Dec. 31.

• “Extending the deadline will assist the practitioner community in maximizing the relief provided and will bring more taxpayers into voluntary compliance,” the AICPA wrote ...