Trump Instructs Mnuchin to Move Tax Day From April to July
With all of the negatives that have come with the coronavirus outbreak, there is one positive that Americans can look forward to. President Donald Trump is directing Treasury Secretary Steven Mnuchin to hold tax day on…
With all of the negatives that have come with the Coronavirus Outbreak, there is one positive that Americans can look forward to.
President Donald Trump is directing Treasury Secretary Steven Mnuchin to hold tax day on July 15 instead of April 15.
Mnuchin made the announcement via Twitter.
“At 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,” Mnuchin tweeted.
Lawmakers are working to find ways to help reduce the impact of the coronavirus crisis on the economy.
Mnuchin listed the benefits of changing the tax deadline as the Treasury Department was mulling pushing the day back, as IJR previously reported.
Among those include providing relief to taxpayers and small businesses and pumping $200 billion of liquidity into the economy.
The announcement comes shortly after Mnuchin encouraged Congress to pass a $1 trillion package by next week to send money directly to Americans to help provide financial assistance during the crisis, as IJR previously reported.