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Trump may extend tax filing deadline over coronavirus

The Trump administration is weighing extending this year’s April 15 deadline for filing income taxes to soften the impact of coronavirus on U.S. households and businesses, The Wall Street Journal reported late Tuesday.

Treasury officials are reportedly considering how long the filing extension will be and the logistics of how it will work. No final decision has been made yet. 

The move comes after over 1,000 cases of COVID-19 have been reported in the U.S.  

Individuals are typically required to pay taxes by April 15 or they face penalties and interest charges. The IRS also grants taxpayers the option to file for a six-month extension. 

1040 tax form

The Treasury Department could be forced to borrow money following the decision to delay tax payments, the Journal reported. About $333 billion in individual taxes were collected in April last year. 

On Tuesday, Democrats on the House Ways and Means Committee wrote a letter to the IRS on the impact of the coronavirus on tax filing season. The lawmakers requested a “continued evaluation” concerning the need for an extension beyond the April 15 deadline. 

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