Home Topics Real Estate IRS pushes the deadline for filing taxes to May 17th

IRS pushes the deadline for filing taxes to May 17th

The United States’ Internal Revenue Service (IRS) is expected to announce Thursday that the deadline for filing taxes will be postponed to May 17 to give Americans more flexibility as the nation moves away from the economic burden recovered from COVID-19.

Congressman Richard Neal | Photo Credit: Office of Richard Neal

Congressman Richard Neal and Congressman Bill Pascrell, Chairs of the House Ways and Means Committee and the House Oversight Subcommittee, issued a joint statement commending the decision.

“This expansion is absolutely necessary to give Americans the flexibility they need in a time of unprecedented crisis,” the statement said. “Under titanic stress and strain, American taxpayers and tax advisors must have more time to file tax returns.”

“And the IRS itself started the filing season late, is still behind schedule and now has to implement changes to the American bailout plan.”

The extension follows the latest stimulus package, which introduced a number of changes to tax law, including a change that allows unemployed people to avoid paying taxes on the first $ 10,200 in unemployment benefits.

According to a report by Nasdaq, the IRS is asking individuals to await further clues if they have accumulated unemployment and to wait for additional clues before submitting modified feedback if you’ve already submitted it.

The IRS is also responsible for paying out the stimulus checks, many of which ended up in people’s bank accounts on Wednesday.

The change only applies to federal taxes, but many states could follow suit and extend the deadline for filing state taxes.

Email to Patrick Kearns

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest articles

Reservoir signs BRELAND for global publishing deal

New York-based Reservoir has signed platinum songwriter and artist Daniel Breland (aka BRELAND) to a worldwide publishing deal.The signing, which includes BRELAND's full catalog,...

How to wake up earlier

It's one of the most agreed-upon methods for productivity, and yet many of us just can't force ourselves to start our day earlier. ...

HOW TO REGISTER A BUSINESS IN THE PHILIPPINES | Startup/Entrepreneur/MSME Tips

Hey fam! Welcome to the Gene F Vlog, the channel where we talk about my #startupexperience with my company, #MrSpeedy and talk about the...