Tax Deadlines Will Be Delayed by 90 Days

Americans are getting an extra three months to pay additional taxes they may owe to
the IRS. The change was announced yesterday, as part of measures designed to cushion the economic impact of the coronavirus. Taxpayers who owe money to the IRS usually have to send it by April 15th. But now, individual taxpayers and small businesses can defer payments of up to one-million dollars. For corporations, that’s up to ten-million. In the announcement, Treasury Secretary, Steven Mnuchin, said Americans should still file their taxes by April 15th. Requesting a six-month extension is still an option. The new deadline applies only to federal taxes. But, some states including California are setting their own new deadlines.