At a press conference on Tuesday, March 17, Treasury Secretary Steve Mnuchin announced that payment of federal taxes due on 4/15/2020 will be deferred by 90 days in response to the coronavirus outbreak. Individuals can defer up to $1 million and businesses can defer up to $10 million in payments without penalty or interest. The tax filing date of 4/15/2020 remains unchanged with the extension being automatically applied to tax payments only. Please be sure to contact your tax professional with regards to payment extension details and filing requirements.
IRS Defers 2020 Tax Payments by 90 Days Due to Coronavirus
COVID-19 News and Updates | | Mar 18, 2020