Bipartisan House Pair Introduces New Tax Return Extension Bill

A bipartisan House Ways and Means Committee duo rolled out a new proposal Monday to help taxpayers qualify for an extension on their federal tax returns.

Reps. Judy Chu (D-Calif.) and Mike Carey (R-Ohio) introduced the Simplify Automatic Filing Extensions Act, which would change the rules that allow taxpayers to extend their tax return deadline.

Their bill would allow taxpayers to make a payment of 125% of their prior year’s tax liability to qualify for the six-month extension; current law requires taxpayers requesting a six-month extension to also make a payment based on their current ...