TAX INFORMATION & DEADLINE
IRS Tax Deadline Should be Extended from July 15th to a Later Date (October 15, 2020). The American Taxpayer and Small Businesses Need this Relief to Accurately, Timely and Penalty-Free Pay 2019 and 2020 Taxes. This at Zero Cost to the Government. The Extension Available on July 15, 2020 is Only an Extension of Time to File, NOT an Extension of Time to Pay Any Taxes Due. Here is my Letter of Request to the U.S. Government on Behalf of the American Taxpayer and Small Business Owners.
On behalf of myself, the American taxpayer and small business, I respectfully request that the July 15, 2020 IRS tax deadline for paying taxes for 2019 and 1st & 2nd quarter 2020 be moved to October 15, 2020 to allow these individuals and business owners, as well as their tax preparers, to accurately determine how much taxes are due and more importantly, the relief of time to pay those taxes penalty-free. I understand an extension can be filed on July 15, 2020 extending the 2019 tax returns, however, that is not an extension of time to pay any taxes due, and it does not extend the time to pay any estimated 2020 taxes. Therefore, simply moving the July 15, 2020 deadline will still allow for the proper amount of time to file, as normally provided by the government, but additional time and relief to pay such taxes free from late payment and underpayment penalties; which is much needed relief that costs the government nothing. Moving the July 15, 2020 tax deadline is nothing more than moving the deadline to pay these taxes. This request does not change the deadline to file tax returns for 2019, and thus, should cause no additional burden on the IRS, as the same number of tax returns would be filed, just the increase of the inflow of checks to pay taxes would be later in the year. It further seems reasonable to move this deadline also as a benefit to the IRS as they are understandably behind on much of their responsibilities due to being closed-down, just like the rest of America. Even if the taxpayer is still required to pay such taxes on or before July 15, 2020, the IRS’s mailroom backlog of simply opening such mail timely seems extremely unlikely, and thus, the U.S. Treasury doesn’t appear it would be depositing tax payments much sooner than a moved tax deadline anyhow. The IRS’ backlog of work should be an easy parallel to the accounting world, both inside the businesses and the tax preparers offices. The IRS has had to spend a tremendous amount of time on the Stimulus Check relief, just the same as businesses and tax professionals have had to spend time on other pandemic relief, such as the wonderful but time consuming Paycheck Protection Program, as well as it’s forgiveness, not to mention to excellent and also time consuming 3 new payroll tax credits and retroactive tax law changes out of the spectacular CARES act. And again, that was all roughly in the last 90 days, on top of businesses and accounting/tax offices being closed across the country, much longer than expected.When the deadline was moved in March, it was much appreciated and reasonable, given at the time, the sentiment from the government was America would be back open by mid-April. Given much of the country is still not 100% open, and all that we have endured over the last 90 days, it seems reasonable to move this deadline again. I would recommend October 15, 2020. Your assistance, support and action into this matter is greatly appreciated.