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Treasury and IRS to delay tax payment deadline by 90 days

Source: https://cnbc.com/2020/03/17/treasury-and-irs-to-delay-tax-deadline-by-90-days.html - Mar 17, 2020

Taxpayers will get a three-month reprieve to pay the income taxes they owe for 2019, Treasury Secretary Steven Mnuchin said on Tuesday at a news conference.

As part of its coronavirus response, the federal government will give filers 90 days to pay income taxes due on up to $1 million in tax owed, Mnuchin said in Washington. The reprieve on that amount would cover many pass-through entities and small businesses, he said.

Corporate filers would get the same length of time to pay amounts due on up to $10 million in taxes owed, Mnuchin said.

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Category: General Business