Daily Tax Report ®

October Is the New April for Accountants After Tax Law Confusion

Oct. 10, 2019, 8:13 AMUpdated: Oct. 10, 2019, 2:16 PM

For Americans who couldn’t figure out how to pay their taxes in April after Republicans overhauled the tax code, there is a new day of dread for accountants: Oct. 15.

That’s the filing deadline for individuals and corporations that asked the Internal Revenue Service for a six-month extension to submit their tax documents. Accountants say they’ve seen a surge in clients needing extra time to finish filings for their 2018 income, the first year subject to new rates and regulations following the 2017 tax law.

About 15 million individual taxpayers filed for an extension this year, according to the IRS,...

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