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.

About Richard J. Shapiro

Richard Shapiro, Tax Director and member of EisnerAmper Financial Services Group, has more than 40 years' experience in federal income taxation, including the taxation of financial instruments and transactions, both domestic and international.