The Treasury’s decision to merge the tax filing deadlines to July 15 came as welcome relief to many tax professionals, but those deadlines could very well shift again soon.
The phase 3 economic relief package proposed by Senate Republicans March 19 calls for shifting the estimated tax payment deadline to Oct. 15, although it would keep the July 15 filing deadline in place.
Additionally, some tax practitioners are calling for more clarification on other tax deadlines, such as whether the due date for installment payments under section 965 will change.
Tax practitioners are also asking for more guidance regarding the June 15 deadline for second-quarter estimated tax payments. Currently, the second-quarter payment is due before the first.