Americans will get an extra three months to file their taxes this year. On Friday (March 20), Treasury Secretary Steven Mnuchin announced that the tax filing deadline is being moved from April 15 to July 15 due to the global coronavirus pandemic.
"At @realDonaldTrump's direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties," he tweeted.
According to Fox News, officials believe the delay could leave at least $300 billion in the economy at a time when millions of Americans and countless businesses are struggling to cope with the economic impact of the coronavirus.
Mnuchin urged taxpayers who are expecting a refund to file their taxes sooner rather than later so they can get their money.
Many states have already delayed their tax filing deadlines as the global economy has ground to a halt with numerous businesses forced to close while hundreds of millions of people are forced to shelter in place in an effort to slow the spread of COVID-19.
To keep up to date on the latest news about the coronavirus and to understand what you need to stay safe and healthy, check out the Coronavirus: Fact vs. Fiction podcast from CNN Chief Medical Correspondent Dr. Sanjay Gupta.
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