![]() Throughout the pandemic, the AICPA has been communicating its concerns to Treasury and the IRS about practitioners’ ability to meet various filing and payment deadlines. ![]() This potentially translates into more notices and penalties being assessed. As a result, more extensions were filed, returns were completed closer to the final deadlines, and some returns were not able to be filed timely with accuracy. Members report that information was harder to acquire, systems and services were limited, and normal processes were not feasible. However, as the pandemic unfolded and lives were disrupted, the AICPA heard from members about a range of problems they were experiencing, including the extra time spent with economically challenged clients unexpected deadlines due to assisting with Paycheck Protection Program (PPP) loan applications and the PPP loan forgiveness process and clients, members, and staff being incapacitated with COVID-19. ![]() ![]() ![]() With offices across the country shut down, quarantines and shutdowns in effect, and many people sick, taxpayers and tax practitioners both needed the extra time. In response to the global COVID-19 pandemic, the IRS took unprecedented actions this year to extend a wide variety of filing and payment deadlines. ![]()
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