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News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official

 
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03/17/2020 08:31 PM
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News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
Death and Taxes are the two absolutes. Apparently Taxes can wait 3 months while we stave off Death. Still waiting for official statement on IRS, Treasury Dept sites.

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Treasury and IRS to delay tax payment deadline by 90 days
By Darla Mercado | MAR 17 2020 - 12:37 PM EDT - UPDATED 5 HOURS AGO

(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....


READ MORE: [link to www.cnbc.com (secure)]

Last Edited by Fist in the Box on 03/20/2020 05:29 PM
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03/17/2020 08:33 PM
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Re: News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
covid19

Last Edited by Fist in the Box on 03/17/2020 08:34 PM
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Re: News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
Mathetes' wife was right.

Thread: My wife is an accountant...Tax deadline is now July 15th
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Re: News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
dollar
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Re: News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
wow
huh
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03/17/2020 09:28 PM
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Re: News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
wheres the proof from the official irs website or treasury site ?
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Re: News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
wheres the proof from the official irs website or treasury site ?
 Quoting: huh 77164337


I checked and no announcements yet, nor on White House site. Can't find video of Mnuchin saying it, either. Multiple news sites reporting. I'll amend thread title for now.
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Re: News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
bump4
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Re: News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
no one is going to starve to death
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Re: News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
these are teh consequences you base your economy on service industry
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Re: News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
trump15
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Re: News sites reporting that Mnuchin has delayed tax deadline by 90 days -- UPDATE: It's official
wheres the proof from the official irs website or treasury site ?
 Quoting: huh 77164337


I checked and no announcements yet, nor on White House site. Can't find video of Mnuchin saying it, either. Multiple news sites reporting. I'll amend thread title for now.
 Quoting: Fist in the Box


Here's the official announcement on the Treasury Dept. website. Point of correction: The deadline is not delayed. Payments for any tax owed can be delayed until July without penalty.

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Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak
March 18, 2020

Washington – Following President Donald J. Trump’s emergency declaration pursuant to the Stafford Act, the U.S. Treasury Department and Internal Revenue Service (IRS) today issued guidance allowing all individual and other non-corporate tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments due on April 15, 2020, until July 15, 2020, without penalties or interest. The guidance also allows corporate taxpayers a similar deferment of up to $10 million of federal income tax payments that would be due on April 15, 2020, until July 15, 2020, without penalties or interest. This guidance does not change the April 15 filing deadline.

“Americans should file their tax returns by April 15 because many will receive a refund. Those filing will be able to take advantage of their refunds sooner,” said Treasury Secretary Steven T. Mnuchin. “This deferment allows those who owe a payment to the IRS to defer the payment until July 15 without interest or penalties. Treasury and IRS are ensuring that hardworking Americans and businesses have additional liquidity for the next several months.”

Today’s guidance will result in about $300 billion of additional liquidity in the economy in the near term. Treasury and IRS will issue additional guidance as needed and continue working with Congress, on a bipartisan basis, on legislation to provide further relief to the American people.


READ MORE: [link to home.treasury.gov (secure)]

Last Edited by Fist in the Box on 03/20/2020 05:34 PM





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