It delayed the deadline to give taxpayers, as well as the department itself, more time to cope with changes brought on by the pandemic.
Video Transcript
JOHANNAH GRENAWAY: The IRS announced Wednesday it’s giving Americans extra time to prepare their federal taxes. The traditional filing deadline on April 15 will be delayed again, only this year, you’ll have until May 17th. The IRS will provide more guidance in the coming days.
It delayed the deadline to give taxpayers as well as the department itself more breathing room to cope with changes brought on by the pandemic.
The extension also gives the IRS time to issue guidance on recent tax law changes. The newly passed COVID relief package exempts the first $10,200 of unemployment benefits from federal taxes for most Americans.
Taxpayers who need even more time can request an extension until October 15. However, the new deadline does not push back the due date on estimated tax payments or any state tax deadlines.