Business & Tech
IRS Delays Tax Payment Deadline By 90 Days For Some: Report
Treasury Secretary Steven Mnuchin announced Tuesday that taxpayers can delay paying income taxes on as much as $1 million in taxes.
WASHINGTON, D.C. —Treasury Secretary Steven Mnuchin announced Tuesday that the IRS will waive interest and penalty charges for 90 days for Americans who owe up to $1 million in taxes.
Importantly, he still encouraged Americans to file their taxes by April 15, as it's still unclear whether the IRS will also extend the filing deadline.
"If you owe a payment to the IRS, you can defer up to $1 million as an individual — and the reason we are doing $1 million is because that covers pass-through and small businesses," Mnuchin said during Tuesday's White House Coronavirus Task Force news briefing.
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