IRS National Taxpayer Advocate: Mandatory 60-Day Postponement Due to Federal Declared Disasters (IRC §7508A)

Mandatory 60-day postponement due to federal declared disasters under tax code Section 7508A, the IRS’s National Taxpayer Advocate’s blog addressed February 18. The NTA has heard from practitioners about how and when the mandatory 60-day extension under tax code Section 7508A(d) works. The IRS issued proposed regulations and comments are due by March 15, the NTA noted. The NTA provides an overview of the proposes regulations and encourages practitioners to submit comments before the deadline especially in light of the Covid-19 emergency declaration made in 2020. [NTA Blog: Proposed Disaster Regulations – March 15 is the last day for public ...