Despite tax day extension, coronavirus restrictions still hobble tax payers and preparers.
“These clients are reporting day-to-day business disruptions including travel restrictions, supply chain interruptions, and diminished customer traffic resulting in reduced revenue and limited access to tax documentation. Our members are indicating that these developments present significant challenges for clients in organizing tax records and making final and/or estimated tax payments,” the letter said.
With many CPAs and tax preparers being urged, or in some states, required, to work from home, they were unable to complete the necessary paperwork in order to file all the returns on time. In order for tax preparers to be able to file their clients’ returns, they need specific documents that are typically dropped off at the office. The coronavirus pandemic has made it more difficult for preparers to obtain these documents, since people must stay at home.
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