!-- 634c7aa55dca3b282b7c80846a1dd8060284ae7f -->

Treasury decides to stick to the tax term of July 15

An extension would give taxpayers until October 15 to file their returns, although they still have to pay what they owe by July 15 to avoid interest and penalties.

The decision will certainly please many and disappoint others, all of whom were anxiously awaiting the agency’s decision after Mnuchin said last week that he was considering an additional delay.

The agency had initially delayed the submission deadline by three months after the coronavirus pandemic.

However, a lot of conservative groups had urged Mnuchin for more time, arguing that the economy is still too weak to ask individuals and companies to pay a tax to the government.

At the same time, a union representing IRS workers also sought deferment and said it would allow for more social distance and other precautions, as temporary workers could be returned to offices more slowly.

On the other hand, those who were concerned about everything from the domino effects on state budgets – many have their own filing deadlines tied to the federal ones – were tax preparers already struggling with what may seem like an endless tax season. Others wondered if additional delays would cause people to face huge tax obligations they couldn’t afford.

IRS figures indicate that nearly 90 percent of taxpayers have already filed, and the rest are disproportionately rich.

The agency said it has put in place programs to help people who can’t afford to pay their balance on July 15.

“We have many payment options to help taxpayers,” said IRS Commissioner Chuck Rettig. “These easy-to-use payment options are available on IRS.gov, and most can be done automatically without contacting an IRS representative.”