Income tax filing deadline moved to July 15 from April 15

Treasury Secretary Steven Mnuchin has announced that the deadline for filing U.S. income taxes has been moved from April 15 to July 15

WASHINGTON -- The income tax filing date has been pushed back from April 15, to July 15, Treasury Secretary Steven Mnuchin said.

The administration had announced earlier in the week that it would delay the payments, a move that Mnuchin said would leave $300 billion in the economy at a critical time.

The administration used authority under Trump's national emergency declaration. The delay is available to people who owe $1 million or less and corporations that owe $10 million or less.

It is likely that many states will follow the lead of the federal government in delaying their tax deadlines as well.

The administration is working with Congress to develop a $1 trillion support package and Mnuchin has said the IRS payment delay will add $300 billion to that effort.