Trump Administration Moving Tax Day Deadline to July 15th

  • 2020-03-20
  • Source: TTN
  • by: TTN Staff
Trump Administration Moving Tax Day Deadline to July 15th
 
The Trump administration, at the direction of President Trump, has moved the tax filing deadline from April 15th to July 15th in response to the China virus crisis.

According to Fox News:

Treasury Secretary Steven Mnuchin announced Friday that the deadline for filing federal taxes will move from April 15 to July 15 -- a move to ease the burden the coronavirus outbreak has put on individuals and the economy.

 

He clarified that taxpayers could still file for refunds now, tweeting: "I encourage all taxpayers who may have tax refunds to file now to get your money."

 

...

The administration had announced earlier in the week that it would delay the payments, a move that Mnuchin said would leave $300 billion in the economy at a critical time.

By extending the filing deadline, the government is essentially allowing individuals and businesses to hold on to their money as they deal with lost revenue or paychecks resulting from the economic slowdown as federal and state governments try to keep people home so they don't spread the coronavirus.

Congress and the White House continue to finalize plans to stimulate the economy and help individual Americans. One proposal sees checks upward of $1000 being sent to many Americans.

 Source: TTN

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