Tax Payments Can Be Deferred 90 Days Due to Coronavirus

In a Tuesday press conference, U.S. Treasury Secretary Steve Mnuchin announced important changes for those who have yet to file and pay their taxes for 2019.

Secretary Mnuchin said “We encourage those Americans who can file their taxes to continue to file their taxes on April 15 because for many Americans you will get tax refunds.”

Although he stressed “If you owe a payment to the IRS, you can defer up to a million dollars as an individual and up to 10 billion dollars for corporations for 90 days.”

The one million dollar limit is intended to accommodate small business owners.