Thursday, Rep. Lloyd Smucker, R.-Pa., announced that he is introducing a bill that would postpone the due date for first-quarter 2021 estimated tax payments from April 15, 2021, to May 17, 2021.

• The IRS’s original postponement of the filing deadline indicated no extension would be made for 1st quarter estimated payments
• Firms have been questioning the effectiveness of an automatic extension that did not delay the estimates
• The AICPA has been advocating for a delayed 1st quarter estimate due date since late March