Insight on the Delayed Deadline for Tax Payments

The U.S. Treasury Department has pushed back the April 15, 2020 tax payment deadline by 90 days. Specifically, individuals can defer tax payments of up to $1 million for 90 days, while corporations can defer up to $10 million of tax payments for 90 days. However, there is no extension for the April 15 filing deadline. See this summary from OMA Connections Partner GBQ Partners, as well as this guidance from CliftonLarsonAllen.

Also, the IRS has published this site for coronavirus-related tax guidance. 3/19/2020