Updated at 12:15 p.m. ET
U.S. taxpayers will have a three-month extension to file their taxes because of the coronavirus pandemic, Treasury Secretary Steven Mnuchin said Friday.
He said that at the president's direction, "we are moving Tax Day from April 15 to July 15."
"All taxpayers and businesses will have this additional time to file and make payments without interest or penalties," Mnuchin added.
At the same time, he encouraged people who are set to receive refunds to file earlier so that they can get their money more quickly.