Taxpayers Can Delay Payments for 90 Days, Must File by April 15
- Treasury guidance clarifies that tax forms still due April 15
- Individuals, businesses can defer some payments until July 15
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The Treasury Department issued guidance saying that taxpayers can delay paying some federal income taxes for 90 days but still must submit their forms to the Internal Revenue Service -- or officially request an extension -- by April 15.
Individuals can delay payments of up to $1 million in taxes and corporations can get payments of up to $10 million deferred until July 15 without interest and penalties, according to a notice published Wednesday.