Treasury Department May Extend Tax Deadline Due To Coronavirus

Treasury Secretary Steven Mnuchin announced a potential extension of the tax filing deadline due to the COVID-19 outbreak, aimed at aiding small businesses and individuals. This extension could inject over $200 billion into the economy without needing congressional approval. Historically, the IRS has extended deadlines for areas affected by natural disasters. House Democrats have expressed concerns about the IRS's capacity to assist taxpayers and process returns during the pandemic, prompting discussions on whether the filing deadline should be extended.

What did Treasury Secretary Steven Mnuchin say about the extension of the tax deadline?

How would the proposed extension of the tax deadline affect small and medium-sized businesses?

What amount did Mnuchin mention would be put back into the economy?

What is unclear about the potential extension of the tax deadline?

What concerns did House Democrats express regarding the IRS during the tax return filing season?