Post by M. Hawbaker on Mar 18, 2021 0:27:41 GMT
The Internal Revenue Service said Wednesday it’s pushing the tax-filing deadline from April 15 to May 17.
“This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities,” IRS Commissioner Charles Rettig said in a statement Wednesday.
“This continues to be a tough time for many people, and the IRS wants to continue to do everything possible to help taxpayers navigate the unusual circumstances related to the pandemic, while also working on important tax administration responsibilities,” IRS Commissioner Charles Rettig said in a statement Wednesday.
After a later-than-usual Feb. 12 start to the income tax filing season, the April 15 deadline was arriving too soon, according to accountants, certain lawmakers and advocates for elderly taxpayers. On Tuesday, more than 100 members of the House of Representatives signed a letter asking the IRS to postpone the deadline.
It’s also been a challenging time for the IRS. The tax collection agency was facing mounting pressure for more filing time — especially now that President Joe Biden signed a $1.9-trillion financial rescue bill packed with various tax-code changes.
The IRS has to put those changes into effect, especially one provision that waives federal income tax on the first $10,200 a person receives in jobless benefits. The IRS also has to distribute a third round of stimulus checks. By Wednesday, the IRS had already distributed 90 million economic impact payments, valued at more than $242 billion.
The IRS has to put those changes into effect, especially one provision that waives federal income tax on the first $10,200 a person receives in jobless benefits. The IRS also has to distribute a third round of stimulus checks. By Wednesday, the IRS had already distributed 90 million economic impact payments, valued at more than $242 billion.
