Treasury Wants to Delay April 15 Tax Deadline for Most Filers

Tax forms

Tax forms

The Trump administration will likely push back the April 15 deadline to file taxes as part of efforts to curb the coronavirus' effects on us households and businesses, the Wall Street Journal reported late on Tuesday, citing a USA official and an unnamed person familiar with the matter.

Reports of a possible tax extension came amid talks between the White House and Congress about a fiscal stimulus plan to sap the economic impact of the coronavirus outbreak, New York Post reported.

Somoene said: 'All because China wants to eat everything alive ' and another follower joked: 'dear president can you stop us from paying rent and mortgage until the coronavirus has ended. Democrats and Republicans are agreeing to consider moving back the April 15 tax deadline in the wake of coronavirus.

Munuchin also told lawmakers Wednesday that the delay doesn't require congressional approval. However, it is unclear how long the extension would be.

"Treasury officials are still considering how far the filing deadline may be pushed back and who would be eligible for the extension", the newspaper reported, citing a "person familiar with the discussions".

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According to people familiar with the matter, Treasury officials are now debating how long the deadline should be extended and who would qualify for an extension, the Journal reported.

The delay could affect federal borrowing, since April is the biggest month for revenues as taxpayers send their payments to the IRS, with $333 billion coming in previous year. The Treasury Department may delay the filing deadline to give individuals a break as they grapple with the virus that has sickened more than 1,000 people in the US.

The IRS also said last week that it was monitoring the outbreak but noted that "normal IRS operations are continuing, and we are seeing a strong, smooth filing season for the nation."

"We are concerned about the ability of the IRS to provide taxpayer assistance and process returns, as well as the ability of taxpayers, free tax preparation sites, and tax professionals to meet the filing deadline", the letter said.

The latest data from Johns Hopkins University reveals that more than 1,000 cases of the coronavirus have been confirmed in the USA, and that at least 30 deaths have occurred in the country as a result of the disease.

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