March 18, 2020

Coronavirus: Treasury Secretary Mnuchin Announces 90-Day Interest-Free and Penalty-Free Tax Payment Extension from April 15 to June 15

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Proskauer - Tax Talks

Today, March 17, 2020, Treasury Secretary Steven Mnuchin announced that individuals may defer up to $1 million in 2019 tax liability without interest or penalties until June 15 (90 days after April 15, 2020) and corporations may defer up to $10 million in tax liability without interest or penalties for 90 days. Secretary Mnuchin said that the aggregate amount of deferral would be $300 billion.

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