You Have an Additional 90 Days to Pay Taxes
Tax Day is still April 15, but if you owe the government, you have little leeway when paying taxes.
The application date will remain April 15, but most Americans will receive a 90-day extension to pay any taxes due. Treasury Secretary Stephen Mnuchin made a statement today, explaining that you can defer payment of up to $ 1 million without penalties.
You can still request an extension , but while this allows you to apply in October rather than mid-April, you still have to pay by the due date. This gimmick flips the script a bit, allowing you to pay later if you file in on time.
The IRS has yet to release the details of the adjustment.
If you are expecting a refund, do not wait for the application to be submitted . “We urge Americans who can file taxes to continue to file taxes,” Mnuchin said at anews conference today. “We don’t want you to lose those tax refunds.”
Some states are starting to delay their own payment deadlines, so be sure to check the latest instructions for where you live.
We have a list of websites where you can file federal and state taxes for free if you meet certain income requirements.