October 23, 2020

Busy Season Problems: COVID-19 vs. April 15, No Psychic Powers, IRS Hang-Ups

Got a busy season problem? First, put on some hand sanitizer. Then email us at tips@goingconcern.com with “Busy Season Problems” in the subject line. Or you can text us at (202) 505-8885.

News broke yesterday evening that the Treasury Department was seriously considering pushing back the April 15 filing deadline because of the coronavirus outbreak in the U.S.—something which #taxtwitter had been discussing the possibility of earlier this week. And within the last couple of hours, the Wall Street Journal and the USA Today reported that it’s even more likely now that the April 15 filing deadline will be delayed.

Before this legitimately became a thing, tax professionals’ reactions earlier this week ranged from “Hell no,” to “it won’t happen—there’s already an Oct. 15 extension deadline for individuals,” to “there’s precedent—filing deadlines for taxpayers are often extended by the IRS in areas impacted by natural disasters.”

So, I scanned #taxtwitter this morning to see how our friends in tax were reacting to the April 15 deadline possibly being delayed. To no one’s surprise, many were against it:

Some were on the fence about it:

And others don’t mind the deadline being pushed back:

But will the March 16 filing deadline for S corporations and partnership tax returns be delayed? Don’t count on it, said our friend Tony Nitti:

Here are some other busy season problems our friends in the tax world have dealt with recently:

But fortunately for #taxtwitter (and us), tax pros haven’t lost their sense of humor, even though they may have lost their sanity:

At this point in busy season, and with COVID-19 now officially a pandemic, if y’all weren’t laughing, you’d probably be crying.

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