The Internal Revenue Service is planning to delay the April 15 tax filing deadline to May 17, giving taxpayers an additional month to file returns and pay any outstanding levies, according to two senior House Democrats, Bloomberg News reported. “This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis,” House Ways and Means Chair Richard Neal and Representative Bill Pascrell, head of the panel’s oversight subcommittee, said in a statement Wednesday. “While we are pleased with this 30-day extension, we will continue to monitor developments during this hectic filing season.” The filing extension gives taxpayers additional breathing room to meet their tax obligations in what is becoming one of the most complicated tax seasons in decades. The change would come after calls from accountants and lawmakers to put off the due date as new legislation and pandemic-related work changes disrupt taxpayer plans. Among the changes this tax season are last-minute amendments to the $1.9 trillion stimulus bill signed into law earlier this month that give filers a new tax exemption on up to $10,200 of jobless benefits. The individual tax return, Form 1040, is also the mechanism for people to claim any missing $1,200 or $600 stimulus payments from last year.
