Treasury and IRS Announce 90-Day Delay for Tax Payment Deadline
Category: Tax CentralTags: COVID-19, Taxes On Tuesday, Treasury Secretary Steven Mnuchin announced that the deadline for US taxpayers to pay income taxes for 2019 will be pushed back by 90 days in an effort to soften the financial fallout from the coronavirus outbreak. The reprieve applies for up to $1 million in taxes owed, and would cover many pass-through entities and small businesses, he said. He also indicated that corporate filers would receive the three-month extension to pay amounts due on up to $10 million in taxes owed. What does this mean for you? The deadline for timely filed returns is still April 15, 2020, and Mnuchin said the government would encourage those