Treasury Could Extend Tax Filing Deadline Again
The federal government could extend the 2019 tax-filing deadline once again, The Wall Street Journal reports. Originally the deadline for individuals and corporations was pushed from April 15 to July 15.
“As of now we’re not intending on doing that, however it’s one thing we could contemplate,” Treasury Secretary Steven Mnuchin said when asked if the deadline would be extended until September.
Mr. Mnuchin explained that the reason behind extending the tax deadline was primarily based on the fact many people didn’t have access to their accountants in March,as the country shut down because of the pandemic. He also added that the majority of taxpayers have already filed their taxes. So there is now less of an incentive to push the deadline again. However Mr. Mnuchin did not rule it out. Some states are still in the process of reopening and accounting offices are still closed.
People who expect to receive a refund, should file taxes as soon as possible if they haven’t done so already. There’s no reason to delay it if you expect the government to send you a check. On the other hand, those who expected to pay, are the ones that should try to push off their filing date. Also consider paying with a credit card, which the IRS lets you do with a fee as low as 1.87%.
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Pay 2% credit card fee on top of the 20+% taxes we’re already indebted for! Nein, danke!
No reason to keep extending the deadline. Most of us filed our tax returns before the extension anyways.