IRS to delay the April 15 tax payment deadline by 90 days




 

Most Americans can get a three-month reprieve to pay their income taxes for 2019, Treasury Secretary Steven Mnuchin said Tuesday in a press conference.

The IRS will postpone the April 15 tax deadline by 90 days for millions of individuals who owe $1 million or less and corporations that owe $10 million or less, he said.

To be sure, Americans still have to meet the April 15 deadline if they are expecting a refund or are requesting a six-month extension, but they can defer payment for up to 90 days beyond that.

"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 and we don't want you to lose out on those tax refunds," Mnuchin said. "We want you to make sure you get them."

"All you have to do is file your taxes," Mnuchin said. "You'll automatically not get charged interest and penalties."

How long should I keep my tax returns?: Answer: It depends

What will my tax refund be?: What will my tax refund be? So far, they're smaller by an average of $18

This article originally appeared on USA TODAY: Taxes 2020: IRS to delay April 15 tax payment deadline by 90 days

COMMENTS

More Related News

Tesla secures tax breaks for cybertruck factory in Texas
Tesla secures tax breaks for cybertruck factory in Texas

The decision marks a step forward for Texas as it vies with Oklahoma to attract a new factory to build Tesla's Y sport utility vehicles and cybertrucks. Tesla did not immediately respond to a request for comment. The city of Tulsa in Oklahoma has campaigned for Tesla to build the plant there.

Texas county approves tax subsidies for new Tesla vehicle factory
Texas county approves tax subsidies for new Tesla vehicle factory

Tesla did not immediately respond to a request for comment. The proposed plant would build Model Y sport utility vehicles and Tesla's futuristic Cybertruck. Commissioners in favor of the agreement decided to move forward after a representative of Tesla said executives of the electric auto maker had met with the governor of a rival state, without naming the state.

Pros and Cons of Getting a Tax Extension
Pros and Cons of Getting a Tax Extension

You can easily extend your tax return due date from July 15 to October 15…but should you?

Prominent Democrats press Fed, Treasury to aid states, citing racial inequality
Prominent Democrats press Fed, Treasury to aid states, citing racial inequality
  • US
  • 2020-07-14 10:26:22Z

Citing the particularly sharp impact that cuts to government jobs and services would have on Black Americans, senators Elizabeth Warren, Chris Van Hollen and Catherine Cortez Masto called on Treasury Secretary Steven Mnuchin and Fed Chair Jerome Powell to ease the terms of the Fed's lending facility for state and local governments to allow more to tap it. Lockdowns, high unemployment, and a drop in consumer confidence has decimated household spending and reduced states' revenue from sales and other taxes, forcing many to lay off staff, trim services, and plan for more cuts in the coming year.

The 7 worst ways Americans are using their tax refunds
The 7 worst ways Americans are using their tax refunds

Tax refunds only come around once a year. Spend wisely.

Leave a Comment

Your email address will not be published. Required fields are marked with *

Cancel reply

Comments

  • handkreissäge test
    (2020-03-18 06:59:22Z)

    Our website stichsäge test should help you to find the right jigsaw, as well as many other products. Numerous jigsaw product ideas, current bestseller lists, our comprehensive jigsaw comparison and numerous tips and information will assist you in your selection. It does not matter whether you are a beginner , do-it-yourself or professional - with us you will find a suitable jigsaw for every area of ​​expertise, including product presentation and evaluation.

    REPLY
  • F1 Streams
    (2020-03-28 19:57:42Z)

    Formula 1 racing is the game people enjoy watching in the stadium. But due to any of the issues you are unable to go – do not panic just enjoy it through your personal live streaming option. Soccer streams 100 offer the live, as well as recorded F1 streams for the racing fans.

    REPLY
  • braun travel shaver
    (2020-03-30 20:02:24Z)

    If you operate an electric shaver then we should have available from stock the correct replacement to renew your preferred shaving model. Being one of the UK's largest on-line specialist retailers in electric rechargeable shavers with over ten thousand customer visits each month you can count on us getting it right when it comes to renewing your shaver replacement part. Our extensive knowledge base and support team mean we can supply and advise on the correct component you require.

    REPLY
  • STUDY MBBS ABROAD
    (2020-04-04 19:46:26Z)

    yourchanakya medical education consultancy we are providing consultancy services for medical education in india and abroad

    REPLY
  • Soccer Streams
    (2020-06-27 21:23:17Z)

    After long patience due to Covid-19, Major Sports like Football, UFC, are back! It's not an easy task to watch all Football games online for Free. But I have made it possible for you. Please visit this website for more information. Thanks...

    REPLY
    • Alex @Soccer Streams
      (2020-06-28 11:50:11Z)

      fter a long six months, the wait will end in two weeks, when the 2020 - 2021 NFL season begins Start. The Broadcast Website is BuffStream NFL Stream channel broadcasts are already defined and there will be Many games in week 1.

      REPLY

Top News: Economy