What Will the New COVID-19 Drug Cost?

Plus:Tax Filing Deadline Looms You are receiving this limited-time email resource as a subscriber to Kiplinger's free e-newsletters. We will continue to publish this daily throughout the height of the coronavirus outbreak. To unsubscribe at any time, simply click the link in the footer below. JUNE 30, 2020 [View in browser]( WHAT YOU NEED TO KNOW ABOUT THE CORONAVIRUS OUTBREAK A new drug shows promise in treating COVID-19, but it won't come cheap. Gilead Sciences ([GILD]( has announced pricing for its drug remdesivir, which has been shown to reduce recovery time in severe cases of the disease, and has been approved by the Food and Drug Administration. Private U.S. insurers will pay $3,120 for a five-day treatment course, while Medicaid and the Department of Veterans Affairs will pay $2,340, because the drug was developed with U.S. government assistance. Other countries in the developed world will also pay $2,340. Countries in the developing world will pay substantially less for a generic version that Gilead has licensed. The first large shipments should occur in about two weeks. SEE ALSO: [The Best Tax Software Values for 2020]( Gilead claims that the drug will more than pay for itself by reducing the length of hospitalization stays, especially if they involve ICU admission. Cutting four days of hospitalization would save insurers $12,000, the company says. You're out of luck if you were counting on the IRS pushing back the tax filing and payment deadline again. Due to COVID-19, the original due date for 2019 returns was postponed from April 15 to July 15, 2020, and several groups have been pressuring the IRS to allow even more time to file and pay taxes this year. However, on Monday, the IRS announced that there will not be another delay. So, the July 15 due date stands. If you can't meet the July 15 deadline for whatever reason, you can request an automatic extension of time to file until October 15 by filing Form 4868 by July 15. While this will give you more time to file your return, it does not give you more time to pay any tax due. You still have to estimate your tax liability on the extension form and pay by July 15 to avoid penalties and interest. Don't forget about your state tax return, too. Check with your state tax agency to see when it is due; it may be different than the July 15 deadline for federal returns. Free download, [The Kiplinger Letter's Forecast](. No information required from you. SPONSORED CONTENT FROM SMARTASSET [People Who Retire Comfortably Avoid Financial Advisor Mistakes]( Don't make the mistake of not properly vetting your options. This [free tool]( helps you compare fiduciary financial advisors in your area. [READ MORE]( LATEST INVESTING NEWS FROM KIPLINGER.COM [20 IRS Audit Red Flags]( [Sales Tax Holidays in 2020]( [IRS Is Not Extending the Tax Deadline Again]( [20 Most-Overlooked Tax Breaks and Deductions]( [21 Dividend Increases Announced During the COVID Crisis]( [Kiplinger] [Facebook]( [Twitter]( [LinkedIn]( Send this to a friend. [Click here.]( All content ©2020 The Kiplinger Washington Editors 1100 13th Street, NW, Suite 1000 Washington, D.C. 20005 Thank you for subscribing to Kiplinger's A Step Ahead, a free resource to help readers navigate special circumstances such as the coronavirus outbreak. If you ever wish to stop receiving this daily service, please [click here to unsubscribe](.