Treasury Secretary Steven Mnuchin announced Tuesday that taxpayers will get a three-month reprieve to pay their 2019 income taxes as part of the federal government’s coronavirus response. Returns, however, must still be filed by the traditional April 15th deadline.
Filers will have 90 days to pay income taxes due on up to $1 million in tax owed. During that three-month deferral period taxpayers won’t be subject to interest and penalties.
So far only Maryland and California have announced any sort of reprieve. It’s likely more states will follow suit given this move by the federal government.
The IRS has also created a new website regarding the coronavirus’ effect on taxpayers. The site links to various online resources and contains information about the Free File program, refunds, payment plans and assistance for those who are low-income, elderly or disabled.
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