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AICPA Warns Late Form 8995 Release May Trigger Unfair Tax Penalties
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Subscribe10 MAR 2026 / AICPA UPDATES
The American Institute of Certified Public Accountants (AICPA) has appealed to the U.S. Treasury and the Internal Revenue Service (IRS) for penalty relief for qualified farmers, who have been pressured into a rushed tax filing deadline due to late changes in IRS Form 8995. This request followed a 26 January 2026 update to the taxation form which, according to AICPA, was not available until 23 February, offering limited turn-around time for farmers and preparers to meet the March tax payment deadline and avoid underpayment penalties.
It is hard enough to hit a tax deadline when the rules stay put. It is even harder when the IRS changes the recipe after the cake is already in the oven. That is basically the mess behind the AICPA’s latest ask to Treasury and the IRS: give qualified farm...
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