Treasury Dept. May Extend Tax Filing Deadline Again

Treasury Dept. May Extend Tax Filing Deadline Again

The federal government could extend the  2019 annual tax-filing deadline a second time, 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 said that the reasoning behind extending the tax deadline was primarily based on a priority that many people didn’t have access to their accountants as workplaces and shops throughout the nation shut down in March 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.

If you expect to receive a refund, then you should file your taxes as soon as possible if you haven’t done so already. People that are expected to pay, are the ones that should try to push off their filing date. If you have to pay, then consider doing so with a credit card. You have to use one of the third-party credit card processors that deal with the IRS. Fees vary between 1.87% to 2%. You could use a 2% credit card, or one that you need to put some spending on.

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