The Internal Revenue Service will give Americans until May 17 to file their taxes, the agency said Wednesday. The I.R.S. emphasized that the extra time is only for federal returns, not state returns, so taxpayers should check with their state tax agencies about any deadline changes. It also does not apply to estimated tax payments that are due on April 15, which are still due on that day.
The Federal Reserve’s latest projections showed that the central bank’s policymakers don’t anticipate an increase in interest rates at least until 2023. The Fed is also buying $120 billion in bonds per month — $80 billion in Treasury securities, plus $40 billion in mortgage-backed debt. Jerome Powell, the Fed chair, indicated on Wednesday that the Fed was not ready to even start talking about when it might reduce that support. “We’ll be carefully looking ahead,” he said. “When we see that we’re on track” then “we’ll say so, and we’ll say so well in advance of any decision to actually taper.”