Many tax professionals plan their entire year leading up to April 15—also known as Tax Day. Things will be different this year.
The Internal Revenue Service has delayed the filing and payment deadlines for federal taxes by three months to give taxpayers and tax preparers more time to deal with the fallout from the ongoing new coronavirus pandemic.
While this extra time was certainly welcomed, it does mean that this filing season will be unlike any most certified public accountants have experienced. On this episode of our podcast, Talking Tax, we talk to Ed Karl, vice president at the American Institute of CPAs, about what this sudden schedule change means for tax preparers.
(Note: This interview with Karl was recorded on April 8, before the IRS moved back many of its filing deadlines for things including trusts and estates.)
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