Excluding Estimated Payments Significantly Impacts Small Businesses

March 17, 2021

Washington, D.C. (March 18, 2021) – Today, Commissioner of the Internal Revenue Service (IRS), Charles Rettig, testified before the House Ways & Means Oversight Subcommittee and was asked about the deadline extensions for the 2021 tax season. President and CEO of the American Institute of CPAs (AICPA), Barry Melancon, CPA, CGMA, has released the following statement in response to testimony provided by Commissioner Rettig:

“Small businesses hold the key to rebuilding our nation’s economic infrastructure as cities and states slowly begin to re-open. The IRS’ decision to intentionally omit estimated payments – a method used by millions of small business owners – in the deadline extension announced yesterday is deeply concerning.

“The challenges facing businesses today are significant. They have suffered greatly as a result of the pandemic and are fighting every day to keep their doors open and their staff employed.

“We appreciate the difficulties experienced by the IRS as it navigates the complexities caused by the COVID-19 pandemic. Small businesses nationwide are also dealing with these hardships.

“The AICPA emphatically calls on the IRS to include estimated payments and all other filings due April 15th as part of the deadline extension. Absent IRS action, the AICPA encourages Congress to take action to extend the deadline to June 15th.”