IRS Extends Tax Filing Deadline , to May 17 .
Both the Treasury and the IRS confirmed
the postponement on March 17. .
Tax payments will also be pushed back until May 17.
The American Institute of CPAs had asked for the deadline to be delayed because of the impact COVID-19 has had not only on taxpayers, but also on the IRS.
The agency is still dealing with a backlog of returns from the previous tax year.
Tax preparers are also reviewing changes to the
tax code, including issues related to unemployment aid,
the Child Tax Credit and PPP loans.
It's tough to think we will be under tax season for another month, but we need more time, Meredith Tucker, tax principal at accounting firm Kaufman Rossin, via CBS News.
Lawmakers applauded the extension.
This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis, Reps. Bill Pascrell Jr. and Richard Neal, via joint statement.
Under titanic stress and strain, American taxpayers and tax preparers must have more time to file tax returns, Reps. Bill Pascrell Jr. and Richard Neal, via joint statement