The April 15th Tax return deadline was first moved to July 15th. Douglas Hord of My Tax Guy in Houston explains why the move. "That was extended because people were not likely to get their tax records in a timely fashion and the people at the IRS aren't working" Now Treasury Secretary Steve Mnuchin says "they are open to" another extension all the way to September 17th. Will it come to pass? Says Hord, "The treasury secretary's 'we're open to' usually means in a week they will extend it."
Hord says by nature most of us put things off as long as we can, and extending the deadline to September may not be a good thing. "And so by delaying the payment of income taxes for approximately 3 quarters of a year --- when it comes time to makes those payments - even without penalties or interest to pay - it could cause some panic."
To help clear up some of your confusion about what this means to your own tax filing, Hord is hosting 2 free webinars next week. Click here to sign up.
Hord says the IRS isn't working and is storing tons of paper returns into temporary buildings, to be worked on when they return to work.