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October Is the New April for Accountants After Tax Law Confusion

  • Taxpayers delayed filing returns, seeking clarity on new code
  • Tax law errors and late regulation put tax breaks out of reach
The Internal Revenue Service headquarters in Washington, D.C.

The Internal Revenue Service headquarters in Washington, D.C.

Photographer: Andrew Harrer/Bloomberg
Updated on

For Americans who couldn’t figure out how to pay their taxes in April after Republicans overhauled the tax code, there is a new day of dread for accountants: Oct. 15.

That’s the filing deadline for individuals and corporations that asked the Internal Revenue Service for a six-month extension to submit their tax documents. Accountants say they’ve seen a surge in clients needing extra time to finish filings for their 2018 income, the first year subject to new rates and regulations following the 2017 tax law.