IRS announces 90-day payment extension

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.​