Running Behind on Filing Your Taxes? You’ve Got Until July 15th
With April 15th, the traditional "Tax Day" less than a month away, many who owed were feeling stress with the current economic uncertainties. Now, the government has extended the deadline to July.
Treasury Secretary Steven Mnuchin announced the new policy. It's another move designed to help with the financial fallout of the coronavirus pandemic and COVID-19 preparations that have many feeling uncertainties about income, employment, and the general sense of security.
The Secretary also advised anyone owed a tax refund to act now and "get your money." The majority of Americans are owed a refund when they file their federal returns.
According to CNBC.com, as of March 13th, 76.2 million in refund claims have been received and they have paid out 59.2 million. The average refund this year is $2,973 according to the Internal Revenue Service.
Governor Brad Little said Idaho will be pushing back our state tax deadline as well, though it will not likely be as far back as July 15th, the Federal deadline.