United States Secretary of the Treasury Steven Mnuchin announced Friday morning that the income tax filing deadline for everyone in the U.S. will be moved from April 15 to July 15.

This comes as the country is dealing with an outbreak of the novel coronavirus (COVID-19).

Discussions about the move began earlier this week, but it was uncertain if the federal government would officially make the move.

Officials say that moving the deadline will keep $300 billion in the economy.

CNN reports that this change only applies to federal taxes. States and municipalities set their own deadlines.

Enter your number to get our free mobile app