AICPA Proposes to Congress Changing Some Tax Filing Deadlines
Published October 22, 2010
The American Institute of Certified Public Accountants sent a proposal to Congress to change the due dates for tax return forms filed by partnerships, S corporations, C corporations, trusts and estates, and pension plans so that the information provided by those returns would cascade down and be available for use in filing other types of returns by their later due dates. For example, partnership returns would be filed first because the information from those returns often is necessary for S corporation returns.
The AICPA said in its letter that adjusting the filing dates, as it proposes, would improve the accuracy of tax and information returns and reduce the need to file amended returns, which would simplify tax administration.
In developing the proposal, the AICPA said it conducted two surveys of over 30,000 of its Tax Division members, met with staff members of the Joint Committee on Taxation, the U.S. Department of the Treasury, the Internal Revenue Service and the National Taxpayer Advocate’s Office, and solicited feedback from state departments of revenue.
A copy of the letter to the chairmen and ranking minority members of the Senate Finance Committee and House Ways and Means Committee is attached and is available here.