Calls for for an extension of the tax return season are rising because the April 15th deadline expires
With the April 15th tax return a month away, calls to extend the season are increasing.
On Tuesday, a bipartisan group of lawmakers led by Rep. Jamie Raskin, D-Md., And Bill Pascrell Jr., DN.J., Chairman of the Subcommittee on Monitoring Paths and Means, sent a letter to the IRS and the Finance department where they were asked to move the deadline by July 15th.
The letter, signed by more than 100 lawmakers, comes about a week after Rep. Pascrell and House Ways and Means Chairman Richard Neal, D-Mass., Asked the IRS to revoke the filing deadline due to the pandemic and recent changes from the Year to extend American bailout plan, which was incorporated into law on March 11th.
“Almost a year later, we are still facing massive economic, logistical and health challenges posed by this devastating pandemic,” the letter said. “Millions of stressed taxpayers, businesses and creators would welcome an extension of the 2020 deadline for filing their tax returns.”
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The IRS started tax filing season later than usual this year – it started on Feb. 12 to give the agency time to prepare after being tasked with sending out the second round of economic impact payments.
Now the IRS is in the middle of the registration season and is grappling with changes in the taxation of unemployment income from the latest Covid bill. She is responsible for sending out another round of stimulus checks. According to the letter, this overwhelmed the agency. The IRS only answers 25% of calls and has received and processed fewer returns than at the same time last year.
By March 5, according to the latest data, the IRS had received nearly 56 million returns and processed nearly 49 million. Last year, the agency had received almost 68 million returns and processed 65 million by March 6.