Dear Sec. Mnuchin:
Treasury must act immediately by extending the April 15 filing deadline to July 15.
Unfortunately, the important payment relief that was announced Tuesday and formalized in today's notice does not apply to the filing of tax returns and does not reflect the real-world difficulties tax practitioners and their clients are facing.
Cities across the country are having to shut businesses down because of the coronavirus pandemic, and it is impossible for every taxpayer and their tax adviser to prepare returns in this environment.
Nearly 60% of all taxpayers turn to a tax practitioner to prepare and file their tax returns, and individual and business tax filing deadlines are fast approaching. We need immediate action.
We understand that these are uncertain and challenging times for the Treasury Department, and the CPA profession wants to help the system function well. To do that, we need payment and filing relief together.
Thank you for your work to guide the country through these difficult days.