March 26, 2020

Treasury Secretary Steven Mnuchin, speaking at a coronavirus news conference, announced that individuals who owe taxes to the IRS can defer up to $1 million, and corporations can defer up to $10 million in payments, for a period of 90 days from the April 15th deadline. At this point, the deferral applies to the income taxes owed, and there does not appear to be a similar automatic extension for filing a return.

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