NW Valley Times

WASHINGTON, D.C.—On May 25, U.S. Congresswoman Debbie Lesko (R-AZ-08) and Congressman Brad Schneider (D-IL-10) introduced the bipartisan Tax Deadline Simplification Act to change the estimated tax payment deadlines to a uniform, quarterly schedule.

“The IRS has set tax payment deadlines at uneven intervals, which can cause confusion for our nation’s hardworking taxpayers,” said Congresswoman Lesko. “I am pleased to introduce this common-sense legislation to change these deadlines to a uniform schedule and make it easier for taxpayers to save appropriately and comply with due dates.”

“Unnecessary complexity causes confusion and adds costs, so I am proud to introduce this bipartisan legislation with Rep. Lesko to simplify tax deadlines to help working families and business owners better plan and pay their taxes in a timely manner,” said Congressman Schneider.

Estimated tax payments are made each quarter to the Internal Revenue Service by those whose income is 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, and National Association of Tax Professionals.

Original source can be found here.