The Internal Revenue Service is planning on extending the deadline to file taxes to mid-May after a chaotic year in which a number of policies complicated tax laws on both state and federal levels, Bloomberg reports.
According to three sources, the IRS has not yet determined the exact date for the rescheduled deadline, but they anticipate it will be in the middle of May, giving taxpayers an additional month from the traditional April 15th filing deadline. With millions of Americans receiving aid, either individually or through businesses entities they run, tax requirements are still being worked out concerning what is taxable income versus what is tax free.
Leaders in Congress, as well as accountants and tax preparers, had lobbied for the delay given the complexity of people’s finances, business loans and grants, and federal and state aid packages.