By Miriam Raftery
March 20, 2020 (Washington D.C.) – All taxpayers will have until July 15, instead of April 15, to file federal taxes due to the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin announced today. The extension applies both to individuals and businesses.Individuals and small businesses candelay paying any federal income tax payments up to $1 million and $10 million, respectively, until July 15, 2020
Earlier, the White House had said taxpayers could defer payment, but still needed to file by April 15. The new order makes clear that filing, too, can be delayed up to 90 days. However taxpayers who are expecting refunds are encouraged to file as early as possible.