Coronavirus Tax Relief Means Millions of Taxpayers Have Until July 15th to Pay Their Taxes
Last updated March 17, 2020
The U. S. government has just announced that it will give individuals and businesses an extra 90 days to pay the taxes they owe. Individuals can defer payment of up to $1 million in taxes and corporations can defer up to $10 million in taxes without incurring interest or penalties. The extension does not extend the time in which you must file your tax return. Therefore, it is critical that you file for an extension under the usual procedures if you cannot file your tax return on time.
CSG will continue to monitor proposed legislation and keep you updated on any tax benefits that may be made available to you.
For additional information pertaining to the coronavirus outbreak, please visit CSG’s COVID-19 Resource Center.
This publication contains general information on recent legal developments and is not intended to provide legal advice for a specific situation or to create an attorney-client relationship. Attorney Advertising. Prior results do not guarantee a similar outcome.