Mnuchin Says He May Consider Second Tax Due-Date Extension

Treasury Secretary Steven Mnuchin said he may consider a second extension in the U.S. tax filing deadline as the coronavirus pandemic continues.

“It’s something I’m thinking about,” he said Tuesday during a Bloomberg Invest Global virtual event. “As of now I’m not intending on doing that, but it’s something we may consider.”

WATCH: Treasury Secretary Steven Mnuchin says he may consider a second extension in the U.S. tax filing deadline as the coronavirus pandemic continues.

(Source: Bloomberg)

The delay would give taxpayers additional time to file their tax returns and pay any balances due. The Internal Revenue Service in March extended the April 15 tax deadline to July 15. Mnuchin could extend the due date administratively, meaning he wouldn’t need Congress to approve the change.

Several groups, including the National Taxpayers Union and the National Treasury Employees Union, have asked the IRS to extend the tax due date. A second delay would be akin to the IRS giving an interest-free loan to individuals and companies that owe the government money. Mnuchin said the first three-month delay injected about $300 billion of liquidity into the economy.

To contact the reporters on this story:
Saleha Mohsin in Washington at smohsin2@bloomberg.net;
Laura Davison in Washington at ldavison4@bloomberg.net

To contact the editors responsible for this story:
Joe Sobczyk at jsobczyk@bloomberg.net

Justin Blum, Wendy Benjaminson

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