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Tax filing deadline moved to July 15 amid coronavirus outbreak

Photo: Getty Images

Treasury Secretary Steven Mnuchin announced Friday that the IRS' tax filing deadline was extended three months to July 15 amid the coronavirus outbreak.

The big picture: Mnuchin already announced earlier this week that the government would defer up to $300 billion in tax payments for three months. That move allowed individuals to defer up to $1 million and corporations to defer up to $10 million — interest-free and penalty-free.

Go deeper

Margaret Harding McGill
44 mins ago - Technology

Trade commission's tech cases: Hits and misfires

Illustration: Sarah Grillo/Axios

With the Federal Trade Commission expected to unveil long-awaited antitrust action against Facebook in the near future, the agency's mixed record on regulating tech has experts viewing the case as a "put up or shut up" moment.

The big picture: Most of the tech cases the FTC has tackled involve consumer protection rather than restraining monopolistic behavior. Past antitrust investigations of tech mergers or companies, like a review of Google that ended in 2013, led critics to paint the FTC as toothless.

Go deeper (3 min. read)Arrow
Glen Johnson
1 hour ago - Politics & Policy

Trump challenges cement Biden triumph

Photo Illustration: Sarah Grillo. Photo: Alex Wong/Getty Images

President Trump's frantic post-election challenges are having the opposite effect of what he intended: He's documenting his demise through a series of court fights and recounts showing Joe Biden's victory to be all the more obvious and unassailable.

Why it matters: The president’s push to overturn the election results is dispelling the cloud of corruption he alleged by forcing states to create a verified — and legally binding — accounting of his election loss.

Go deeper (1 min. read)Arrow
Mike Allen, author of AM
1 hour ago - Politics & Policy

CEOs abandon Trump

Photo: Tasos Katopodis/Getty Images

Tom Donohue — CEO of the U.S. Chamber of Commerce, and longtime confidant of Republican presidents — tells Axios that Joe Biden is president-elect, and President Trump "should not delay the transition a moment longer."

What he's saying: "President-elect Biden and the team around him have a wealth of executive branch experience that should allow them to hit the ground running," Donohue said in a statement.

Go deeper (1 min. read)Arrow

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