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IRS announces 90-day payment extension

3/17/2020

 
At a press conference held today, U.S. Treasury Secretary Mnuchin announced the following extensions for federal income tax payments:

  • Individuals and businesses with an April 15 filing deadline will be given an additional 90 days to pay taxes;
  • Individuals will be able to defer up to $51 million of tax liability; and
  • Corporations get an extension for up to $10 million.​

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    Sal Censoprano is a Certified Public Accountant (CPA) and tax practice owner for over 40 years. He was born and raised in Brooklyn, New York and earned his master’s degree in taxation. 

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