Lesko; Schneider Introduce Bipartisan Legislation to Simplify Tax Payment Deadlines
Washington, June 29, 2021 | Rachel Harris (202-417-0746)
WASHINGTON, D.C.—Today, U.S. Congresswoman Debbie Lesko (AZ-08) and Representative Bradley S. Schneider (D-IL-10) introduced the bipartisan Tax Deadline Simplification Act to change the estimated tax payment deadlines to a uniform, quarterly schedule.
“Under current law, tax payment deadlines are set at uneven intervals, which can cause confusion and negatively affects gig economy and self-employed workers,” said Congresswoman Lesko. “By changing these deadlines to occur on an even basis, this legislation will help our nation’s hardworking taxpayers better calculate their net income, save appropriately for their tax payments, and better comply with due dates.”
“American taxpayers need lawmakers to fight for them in Washington,” said Representative Schneider. “For too long, the IRS has made paying taxes complicated and burdensome. With the bipartisan Tax Deadline Simplification Act, we’re putting common sense to work for individual taxpayers, small businesses, estates, and trusts.”
Estimated tax payments are made each quarter to the Internal Revenue Service by those whose income in not subject to tax withholding. Current law sets the estimated tax payment deadlines at uneven intervals that do not coincide with calendar year quarters. This legislation sets the estimated tax installment deadlines to 15 days after the end of each quarter, moving the deadlines to January 15th, April 15th, July 15th, and October 15th. This legislation affects individual taxpayers, small businesses, estates, and trusts.
This legislation is supported by the American Institute for Certified Professional Accountants, Arizona Society of Certified Professional Accountants, Latino Tax Professionals Association, National Society of Tax Professionals, Padgett Business Services, National Conference of CPA Practitioners, National Society of Accountants, National Association of Tax Professionals, and Optima Tax Relief.
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