NoDerog/iStock(WASHINGTON) — Treasury Secretary Steven Mnuchin announced Friday that the deadline to file federal and state income taxes has been moved from April 15 to July 15.

“At [President Trump’s] direction, we are moving Tax Day from April 15 to July 15,” Mnuchin tweeted.  “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.”

“I encourage all taxpayers who may have tax refunds to file now to get your money,” Mnuchin added.

Mnuchin’s announcement comes as the COVID-19 coronavirus continues to disrupt lives and businesses, especially in hospitality and service industries, where hourly wage earners are feeling the financial pinch harder than most. Many institutions are allowing customers to delay paying rent, mortgages and other payments in order to alleviate the economic burden while the nation and world waits for the pandemic to pass.

COVID-19 uncertainty has also pummeled the stock market, resulting in Wall Street declines not seen in over three decades.

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