A 90-Day Tax Payment Holiday

March 17, 2020

It was announced on March 17, 2020, that The Treasury Department is pushing back the April 15 deadline to pay taxes owed related to the 2019 tax year until July 15. It’s important to note, the deadline to file and extend returns is still April 15th.  In regard to tax payments, Individuals can defer up to $1,000,000 of tax liability without being subjected to interest and penalties on the later payment.  As of now, the administration is also considering delaying the timing for payment of estimated tax payments related to 2020.