March 20, 2020
UPDATED March 31, 2020 — The U.S. Treasury Department and Internal Revenue Service (IRS) has 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. Corporate taxpayers are allowed a similar deferral 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. “Americans should file their tax returns by April 15 because many will receive a refund. […]