IRS Payments To Be Delayed 90 Days
March 17, 2020
By Richard Shapiro
UPDATED 3/18/2020, 12:00 PM
Under an economic stimulus plan announced by the Trump Administration on March 17, tax payments up to $1,000,000 for individuals would be deferred for 90 days. This limit for individuals was established to cover small businesses and partnership entities.
Similarly, corporations could defer up to $10 million in tax payments for 90 days.
This would be a payment deferral, not a filing deferral. Tax returns or extensions due on April 15 would still need to be filed by that date.
No announcement has been made with respect to estimated tax payments.
More details to follow.