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US Treasury secretary says tax filing deadline moved to July 15

17:05  20 march  2020
17:05  20 march  2020 Source:   cnn.com

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Treasury Secretary Steven Mnuchin said Friday that the IRS will move the national income tax filing day ahead to July 15 , three months after the normal deadline for Americans to send in their returns. The move is the latest in a series of highly unusual, emergency measures to deal with the financial

Now the tax -return filing deadline has also been delayed to July 15 . States that have income taxes are expected to make similar coronavirus provisions for their state tax Delaying tax payments could force the Treasury to borrow more in the near term. April is the largest month for federal tax payments.

Americans will have an additional three months to file their taxes amid the coronavirus pandemic, the US treasury secretary said Friday.

  Treasury secretary says tax filing deadline moved to July 15 © Jim Watson / Getty

"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 that it would defer 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.

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Tax Day is being pushed back until July while the nation copes with the effects of the coronavirus, Treasury Secretary Steve Mnuchin announced "At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15 . All taxpayers and businesses will have this additional time to file

While tax filers now have until July 15 to pay their 2019 tax bills, those who don’t owe the IRS money still must complete their returns by the original Individuals can defer up to million of tax liability while corporations get an extension on up to million, Treasury Secretary Steve Mnuchin said at

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 are 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.

Mnuchin says Americans to get coronavirus aid within 3 weeks .
Americans should receive cash payments within three weeks to help offset the financial hardships of the coronavirus crisis, Treasury Secretary Steve Mnuchin said, adding that the record jobless claims announced Thursday are not relevant. © Reuters / YURI GRIPAS Treasury Secretary Steve Mnuchin speaks at a news briefing. Interviewed on CNBC, Mnuchin said most people will get the money by direct deposit to their bank as soon as the $2 trillion congressional economic relief package was signed into law. He urged the House of Representatives to quickly take up the massive bill, passed overnight by the U.S.

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