This morning, news outlets have begun reporting that the IRS is considering pushing back the April 15th tax filing deadline in response to the coronavirus outbreaks. The Hill and Bloomberg have sited “Treasury officials” who are looking at this option to relieve the financial burden on taxpayers and government agencies.
Treasury Secretary Mnuchin spoke to the media yesterday, saying that the Treasury Department is evaluating potential responses to the coronavirus situation. Mnuchin has also engaged with House Speaker Nancy Pelosi on the topic of an economic stimulus package. No more information about progress has been forthcoming.
Yesterday, in a similar effort to receive guidance, the House Ways and Means Committee’s Democratic members sent a letter to the IRS Commissioner Charles Rettig requesting an update on the impact of coronavirus on tax return filing season.
“Specifically, we are concerned about the ability of the IRS to provide taxpayer assistance and process returns, as well as the ability of taxpayers, free tax preparation sites, and tax professionals to meet the filing deadline,” wrote the members. They also pointed out that “the IRS has authority to extend the time for filing any return for six months or less and the authority to waive certain penalties upon a showing of reasonable cause.”
The letter asked the IRS to evaluate a deadline extension and other forms of relief for people and communities affected by the virus. Read the letter here.