Treasury Secretary, Steven Mnuchinreported that taxpayers can delay payment of your income taxes for 90 days en up to $1 million in taxes owed.

MiamiDiario Newsroom

Usually in the United States taxpayers of the personal income tax file their prior year tax returns and amounts due before April 15.

At a press conference, Treasury Secretary Steven Mnuchin reported on Tuesday that -on this occasion- taxpayers will be able to postpone the payment of taxes for three monthsinformed CNBC.

This decision is due to the inclement progress of the Chinese coronavirus through the United States, to reduce the impact of this pandemic on taxpayers, the federal government will give taxpayers 90 days to pay income taxes owed on up to $1 million, Mnuchin said in Washington.

The Treasury secretary added that the deferral of that amount would help many small businesses better cope with the Covid-19 disease.

The corporate taxpayers would have the same period of time to pay amounts owed up to $10 million in taxes owed, Mnuchin noted.

The Treasury Secretary explained that - during that three-month deferral period - taxpayers They will not be subject to interest and penalties.

It should be noted that taxpayers must get your 2019 income tax return from the federal government as soon as possibleespecially if you are due a refund and need cash

Mnuchin stated, "We are informing Americans that they can file their taxes before April 15," they will "receive tax refunds."

It was known that until March 6, the IRS processed more than 65 million tax returns, of which 52.7 million taxpayers received tax refunds, averaging $3.012.

While the federal government is giving taxpayers a little more time, they still have to verify the decision of the state where they live.

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