Last week, a bipartisan group of 60 members of Congress - including seven from the state of Florida - sent a letter to commissioner Charles Rettig urging the IRS "to extend the federal tax filing deadline for first quarter estimated tax payments to May 17, 2021."
The IRS has made certain exceptions to the traditional April 15 filing deadline, with 1040s now due May 17, but it has not granted relief to those who file estimated quarterly payments.
The letter reiterates concerns that the FICPA and other state societies have raised in recent weeks on behalf of their members.
"As individuals and small businesses continue to deal with the unprecedented impacts of the COVID-19 pandemic, we believe aligning the estimated payments deadline with the regular tax filing deadline will streamline tax filings and help ensure accurate tax compliance," the letter states.
The FICPA thanks the seven members of the Florida delegation who answered our call to provide support for the letter: Reps. Gus Bilirakis, Neal Dunn, Kat Cammack, Daniel Webster, Carlos Gimenez, Greg Steube and Debbie Wasserman Schultz.
"We find it unacceptable that the only option for these businesses is to pay a penalty in interest," the letter concludes. "To avoid this inevitable scenario, we urge you to utilize your emergency authority to extend the federal tax filing deadline for first quarter estimated tax payments to May 17, 2021."
You can read the letter and see the full list of signatories below: