The Tax Deadline Won't Be Extended Again, and That's Actually a Good Thing

Last week, Treasury Secretary Steven Mnuchin indicated that filers could get more time to submit their taxes this year beyond the July 15 deadline. The original filing deadline was set for April 15, as it usually is. But then the COVID-19 outbreak struck about a month before, leaving Americans reeling on so many levels. Recognizing that taxes would need to go on the back burner as the public grappled with health concerns, lockdowns, and job loss, the IRS announced in March that it was moving the filing deadline to July 15, giving Americans three extra months to get their returns in order.

This week, the Department of the Treasury and the IRS confirmed that July 15 is the filing deadline they're sticking with. And that's actually a good thing for the average filer.

The fact that lawmakers are pushing hard for a second round of stimulus payments speaks to the financial crisis so many Americans are struggling with. And that's why sticking to the July 15 tax-filing deadline could help a lot of people.

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Source Fool.com