The IRS has established a special section focused on steps to help taxpayers, businesses and others affected by the coronavirus.
On March 18, 2020, the U.S. Treasury Department and Internal Revenue Service (IRS) 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.
The guidance also allows corporate taxpayers a similar deferment of up to $10 million of federal income tax payments. Associated interest, additions to tax, and penalties for late payment will also be suspended until July 15, 2020.
However, this guidance does not change the April 15 filing deadline.
The IRS established a special webpage on IRS.gov/coronavirus to include all of the available tax-related information. This page will be updated as more information is available.
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