March 11, 2020 / 2:01 PM / 21 days ago

U.S. Treasury considering tax filing deadline delay, official says

WASHINGTON (Reuters) - The U.S. Treasury is considering delaying the April 15 tax filing deadline as one of several options to cushion the economic impact of the fast-spreading coronavirus in the United States, a senior Trump administration official said on Wednesday.

No decisions have been made on the action, the official said. Such a delay would allow many individuals and businesses to hold on to more cash as travel, business meetings and large gatherings are canceled and economic activity slows.

U.S. Treasury Secretary Steven Mnuchin floated the idea to Republican senators at a meeting on Tuesday where Trump also asked for relief from payroll taxes and other measures to try to shield the U.S. economy, another person who attended the meeting said.

That person said a tax filing deadline would waive interest and late filing penalties and keep significant funds in the economy.

Mnuchin is due to testify before the House Appropriations Committee at 10 a.m. (1500 GMT) on Wednesday on the Treasury Department budget request for the 2021 fiscal year. He is expected to be questioned more intensely on the Trump administration’s coronavirus stimulus plan.

Reporting by David Lawder and Andrea Shalal; Editing by Chizu Nomiyama

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