US will move tax filing deadline to July 15 from April 15
Announcement from the US Treasury Secretary
- All businesses will have additional time to file and make payments without interest or penalties
- Encourages those who are eligible for refunds to file now
This is no surprise, Mnunchin and other White House officials have been hinting at this for more than a week.
The knock-on effect, is that the US will have to shift some major borrowing to make this work, as highlighted by Guy Lebas from Janney who says "The T-bill issuance that this will entail is going to be absolutely insane."