(CNN) — Americans will have an additional three months to file their taxes amid the coronavirus pandemic, the US treasury secretary said on Friday.
“We are moving Tax Day from April 15 to July 15,” Secretary Steven Mnuchin tweeted. “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”
He said he was acting at President Donald Trump’s direction.
The White House had announced previously they were deferring tax payments for 90 days, but that Americans would still need to file by April 15.
Now, the deadline will be extended into the summer.
Mnuchin said Americans with refunds should still file now.
“I encourage all taxpayers who may have tax refunds to file now to get your money,” he wrote.
The administration has been seeking ways to blunt the economic impact of the coronavirus outbreak, which is expected to cause harm to both major industries and small businesses. Economists have predicted a potentially historic spike in unemployment claims.
Lawmakers have been haggling over a massive stimulus package with members of the administration, but Trump has also sought out ways to mitigate economic concerns on his own.
He’s already signed a package that would expand paid sick leave for workers to allow them to remain home if they fall ill from the disease.
And he’s endorsed a measure that would send checks directly to certain Americans, saying he wanted to “go big” in his attempts to keep the economy afloat.
Earlier in the week, Mnuchin said that individual and small business filers would be able to defer payments of up to $1 million and corporations can defer up to $10 million without incurring interest or penalties.
Usually both the tax filing and payment is due on April 15.
Taxpayers can still request a six-month extension to file returns, like they could in any other year.
The new deadlines announced by the administration apply to federal tax income payments only. It’s up to states to set their own deadlines.
Some states are making changes due to the coronavirus. In California, individuals will have until June 15 to both file and pay their state taxes.
Source: eastidahonews.com
US tax filing deadline moved to July 15, Mnuchin says
More from BusinessMore posts in Business »
More from CoronavirusMore posts in Coronavirus »
- Children who suffered complications after COVID will not see recurrence after vaccine, study says
- 47 charged with stealing $250 million from pandemic program meant to provide meals to needy children
- CDC ends recommendations for social distancing and quarantine for COVID-19 control
- CDC expected to ease Covid-19 recommendations, including for schools
- FDA finds Moderna’s Covid-19 vaccine is safe and effective in younger kids
More from LocalMore posts in Local »
More from MoneyMore posts in Money »
- Judge says contractor must give back $114,000 in ‘unearned payment’ to Rigby homeowners
- Constitutional ban on legal pot advances in Idaho
- Broulim’s takes another step toward a Victor store?
- Walmart to build more robot-filled warehouses at stores
- Stimulus checks, unemployment and more: Here’s the aid that’s coming from Washington — and what might be coming soon
More from NationalMore posts in National »
- You have to see this! Country superstar falls on stage after slipping on fan’s phone
- Supreme Court will decide whether Trump is immune from federal prosecution. Here’s what’s next
- Trump tried to ‘corrupt’ the 2016 election, prosecutor alleges as hush money trial gets underway
- Should the SAT still matter after all these years? Why some colleges are bringing it back
- The man who set himself on fire outside the courthouse where Trump is on trial dies of his injuries
More from PoliticsMore posts in Politics »
- Supreme Court will decide whether Trump is immune from federal prosecution. Here’s what’s next
- Trump tried to ‘corrupt’ the 2016 election, prosecutor alleges as hush money trial gets underway
- Senator Mike Crapo’s vehicle emissions bill did not pass the Senate
- Idaho group says it is exploring a ballot initiative for abortion rights and reproductive care
- The man who set himself on fire outside the courthouse where Trump is on trial dies of his injuries
Be First to Comment