FOR IMMEDIATE RELEASE:

The IRS is postponing the April 15 tax-payment deadline for individuals, giving Americans an additional 90 days to pay their 2019 income-tax bills.

The IRS, using authority under President Trump’s national emergency declaration, will waive interest and penalties as well, Treasury Secretary Steven Mnuchin said Tuesday. The delay is available to people who owe million or less and corporations that owe $10 million or less.

The IRS will continue to process tax refunds. Taxpayers should file their returns as usual by April 15th, but they can defer payment for up to 90 days beyond that.  Presumably, they can also seek six-month extensions

The IRS hasn’t explained whether taxpayers can also defer estimated- tax payments for the first quarter of 2020, which are also due on April 15.

Summary