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stevepeer13
March 18, 2020
Question

Given the current circumstances, is the government allowing for penalty/interest free extensions?

  • March 18, 2020
  • 1 reply
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KarenJ2
March 18, 2020

The IRS has set up a website for Coronavirus Tax Relief.

 

There is nothing in writing yet. 

 

Treasury Secretary Steven Mnuchin, speaking at a coronavirus news conference Tuesday, said the government is deferring $300 billion in IRS payments by 90 days, penalty-free.

“If you owe a payment to the IRS, you can defer up to $1 million as an individual,” Mnuchin said.

 

They are still urging taxpayers to file by the deadline, especially if they have a refund.

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