The United States Internal Revenue Service (IRS) is expected to announce Thursday that it’s pushing the deadline to file taxes back until May 17 to provide Americans greater flexibility as the nation continues its recovery from the economic toll of COVID-19.

Congressman Richard Neal | Photo credit: Office of Richard Neal

Congressman Richard Neal and Congressman Bill Pascrell, the chairs of the House Ways and Means Committee and House Oversight Subcommittee, praised the decision in a joint statement.

“This extension is absolutely necessary to give Americans some needed flexibility in a time of unprecedented crisis,” the statement said. “Under titanic stress and strain, American taxpayers and tax preparers must have more time to file tax returns.”

“And the IRS itself started the filing season late, continues to be behind schedule, and now must implement changes from the American Rescue Plan.”

The extension comes on the heels of the recent stimulus bill, which implemented a number of changes to the tax code, including a change that allows unemployed individuals to avoid paying taxes on the first $10,200 of unemployment benefits.

The IRS is telling individuals to await further guidance if they collected unemployment and also await further guidance before filing amended returns if you already filed, according to a report from Nasdaq.

The IRS is also responsible for the disbursement of the stimulus checks, many of which began landing into people’s bank accounts on Wednesday.

The change is only for federal taxes, but many states could follow suit and extend the deadline to file state taxes as well.

Email Patrick Kearns

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
EXTENDED: Last call for the best price of the year on the best events in real estate.Register now×
Cyber Monday Sale - EXTENDED! Get 1 year of Inman Select for $75. Offer expires at midnight.SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription