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IPFS News Link • TAXES: Federal

IRS Moves Tax-Filing-Day From April 15 To July 15, Mnuchin Says

• by Tyler Durden

NOTE - this is the filing day, not just the payment day - which is a notably positive shift.

Mr. Mnuchin told reporters following testimony on Capitol Hill:

"That will have the impact of putting over $200 billion back into the economy, and that will create a very big stimulus."

On March 17, US Treasury Secretary Steven Mnuchin announced in a press conference that the payment due date has been delayed by 90 days (to July 15) for individual taxpayers. This applies to federal tax up to $1 million owed with tax returns. No interest or penalties apply until after July 15.

This announcement was followed by IRS Notice 2020-17, issued on March 18.

Now the tax-return filing deadline has also been delayed to July 15.