Treasury moves to push back April 15 tax filing deadline

The Trump administration is moving toward extending the April 15 tax-filing deadline as part of a broader stimulus package to mitigate the effects of the coronavirus on U.S. families and businesses.

It is, of yet, unclear how far the deadline would be pushed back and who would be eligible for the extension, according to The Wall Street Journal.

Extensions for return filing are already available through October, so long as the individual has paid by mid-April.

Government officials are looking into whether they have the authority to waive the interest penalty for unpaid taxes under an emergency disaster declaration.

House Democrats on Tuesday asked the IRS if the government should extend the mid-April deadline. The IRS frequently provides filing-deadline extensions and waives penalties for taxpayers in areas suffering from the fallout of a natural disasters.

An extension would also likely impact the Treasury Department, which may have to borrow more money to cover government spending in the absence of incoming taxes.