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Treasury and IRS to delay tax payment deadline by 90 days

With the normal tax deadline drawing near, Treasury Steven Mnuchin announced taxpayers will get a three-month reprieve to pay the income taxes they owe for 2019. 


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.


During that three-month deferral period, taxpayers won’t be subject to interest and penalties, he said.


You should still get your 2019 income tax return in to the federal government as soon as possible, especially if you’re due a refund and need cash.


Note this is for federal taxes. Right now the state of Indiana has the regular April 15 tax deadline in place.  



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