CNBC: Taxpayers will get a three-month reprieve to pay the income taxes they owe for 2019, Treasury Secretary Steven Mnuchin said on Tuesday at a news conference.
As part of its coronavirus response, the federal government will give filers 90 days to pay income taxes due on up to $1 million in tax owed, Mnuchin said in Washington. The reprieve on that amount would cover many pass-through entities and small businesses, he said.
Corporate filers would get the same length of time to pay amounts due on up to $10 million in taxes owed, Mnuchin said.
During that three-month deferral period, taxpayers won’t be subject to interest and penalties, he said.
You should still get your 2019 income tax return in to the federal government as soon as possible, especially if you’re due a refund and need cash. read more
The Dems and MSM going full bore to tank the notion of the economic boom since Trump was elected,,,
Still winning!
Good. I owe them a lot this year. Retirement is fucky.
Funny, I made too much money by retiring.
Gee, thanks, Trump!
It is reported that the CRA in Canada is delaying the due date from April 30 to To June 1.
This is a big deal for my present employer. They are literally a husband and wife team right now. Nobody is coming to the shop so as of yesterday everyone is off until further notice. I can handle that fine but there are a few younger ones there that live check to check. Tough times. We just received over $100,000 of lawn and garden equipment a couple weeks ago. Can’t sell it in an empty shop.
Have to agree with F (above), I’m retired and always have to pay NYS taxes every year. It’s a part of the reason, I drive a 19 year old tired out car. Tax slaves have it tough. I hope everyone here on IOWTReport is and stays well. I have my first coffee each morning with you right here.