The US Internal Revenue Service (IRS) is reportedly planning to extend the deadline to file your taxes, giving you an extra month from April 15 until mid-May.
According to Bloomberg, the deadline could be May 15 or May 17. The report cites two unnamed Internal Revenue Service sources.
The report of extending the tax filing deadline follows the stimulus checks of up to $1,400 being mailed out this week after President Joe Biden signed the $1.9 trillion stimulus bill last week.
This is not the first time the Internal Revenue Service has extended its tax filing deadline. Last year, in response to the pandemic, the IRS extended the date to July 15, 2020.
“The extension would give taxpayers additional breathing room to meet their tax obligations in what is becoming one of the most complicated tax seasons in decades.”
Bloomberg
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Accountants and leaders in Congress have asked the Internal Revenue Service Commissioner Chuck Rettig to delay the due date as new legislation and pandemic-related work changes disrupt taxpayer plans. This includes House Ways and Means Chairman Richard Neal, Representative Bill Pascrell, and Mike Crapo, the top Republican on the Senate Finance Committee.
Among the changes this tax season are last-minute amendments to the $1.9 trillion stimulus bill signed into law earlier this month that give filers a new tax exemption on up to $10,200 of jobless benefits. The individual tax return, Form 1040, is also the mechanism for people to claim any missing $1,200 or $600 stimulus payments from last year.
The Internal Revenue Service didn’t immediately respond to a request for comment from Bloomberg.
