In a recent letter to Treasury and the IRS, the AICPA called for greater certainty for taxpayers and tax practitioners and for underpayment and late-payment penalty relief, both of which will provide greater assistance to those affected by the COVID-19 pandemic.
In the letter, the AICPA urged the federal agencies to announce any pending tax filing and payment deadline postponements by March 1.
The IRS stated earlier that taxpayers should assume the April 15 deadline will not change, but there are reports that the IRS may change the deadline if Congress approves another round of economic impact payments.
In the letter, the AICPA also requested underpayment and late-payment penalty relief, a delay in collection activities, and an expansion of the temporary e-signature relief.