Friday, Feb. 12, is the day the IRS begins accepting and processing 2020 individual tax returns. The IRS began accepting and processing 2020 business tax returns on Jan. 8, 2021.
As tax practitioners dive into current tax work, this year’s tax season looks much different than it did a year ago. The 2020 tax year instituted many new tax provisions and economic relief measures: the Families First Coronavirus Response Act, P.L. 116-127, the Coronavirus Aid, Relief, and Economic Security (CARES) Act, P.L. 116-136, Paycheck Protection Program (PPP) loans, and the Consolidated Appropriations Act, 2021, P.L. 116-260, to name a few. These changes all occurred during the same period when tax practitioners were dealing with business disruptions and other challenges stemming from COVID-19.
Through all of these challenges, the AICPA has been supporting members and the larger tax community through guidance and resources on the latest legislative developments and advocacy on issues needing clarity. As we head into the 2021 tax season, the AICPA continues to monitor the tax environment and continues to support the tax profession.
In that regard, the AICPA Tax Division is conducting an online survey to assess how practitioners are feeling about this year’s tax filing season and the April 15 tax filing and payment deadline.
Let your voice be heard by sharing your feedback. Your insight is incredibly valuable in helping the AICPA better support the profession through continued advocacy, communications, resources, and more.
The two-minute survey will remain open until Feb. 19, 2021.
— Minh Graham (Minh.Graham@aicpa-cima.com) is a lead manager–Tax Practice & Ethics with the AICPA.