The IRS is planning to delay its April 15 tax filing deadline until May 17, giving taxpayers extra time during a hectic season.
Accountants had asked the tax agency to push back the deadline given the ongoing challenges with COVID-19. The IRS agreed given the agency is still dealing with a backlog of tax returns from last year. The deadline delay was first reported by Bloomberg News.
The Treasury and the IRS confirmed Wednesday that the tax filing deadline would be postponed until mid-May. The deadline for tax payments — such as quarterly self-employment taxes or underpaid tax amounts — will also be pushed back until May 17.
Tax experts have been assessing changes to the tax code, including last week’s $1.9 trillion American Rescue Plan, which will impact issues ranging from taxes on unemployment aid to the Child Tax Credit, as well as loans from the Paycheck Protection Program.
US lawmakers applauded the IRS’ decision to push back the deadline.