NJCPA Calls on New Jersey to Follow Federal Lead on Any Tax Deadline Extension
Statement by Ralph Albert Thomas, CPA (DC), CGMA, CEO and Executive Director
Once the American Rescue Plan is signed by President Biden, the IRS is expected to extend the April 15 tax filing deadline. The New Jersey Society of Certified Public Accountants (NJCPA) is calling on New Jersey lawmakers to follow suit.
It is critically important that New Jersey conform to any change in the IRS deadline — and do so as quickly as possible. Last year’s New Jersey extension wasn’t finalized until April 13. Such a late decision, so close to April 15, caused chaos for New Jersey taxpayers and tax preparers.
We recognize the difficulties a postponement of the filing and payment deadlines could create; however, COVID-19 and other circumstances necessitate action to ensure that the millions of affected taxpayers have sufficient time to meet their tax obligations. If New Jersey does not conform to an IRS postponed filing deadline, it will, in effect, negate the benefits of the federal deadline extension.
Therefore, we urge that if the IRS extends the April 15 tax filing and payment deadline, any New Jersey returns/payments that are due between April 15 and the IRS’s extended date be extended to that date.
The NJCPA stands ready to make our tax experts available to help in the drafting of any legislation.