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 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.
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