Treasury Defers Tax Payments for Households, Small Businesses

In COVID-19 response, certain groups can defer up to 90 days with no penalties or interest.

In response to the COVID-19 situation, Treasury Secretary Steve Mnuchin has announced that individual households and small businesses may defer their tax payments for up to 90 days past April 15th without penalties or interest.

This exception includes a range of businesses and individuals, including small businesses that file as individuals and owe up to $1 million, sole proprietors, corporations owing up to $10 million, and other categories of small businesses.

Taxpayers are encouraged to file by April 15th, but may request a deferral, which will be applied automatically.