90-Day Tax Payment Deferral
As the news continues to evolve regarding COVID-19, we wanted to connect with you in an effort to keep you abreast of the changes. Earlier today, Treasury Secretary Steven Mnuchin announced that taxpayers who owe a payment to the IRS may defer that payment for 90 days. He shared that up to $1 million can be deferred by individuals and up to $10 million can be deferred by corporations, without interest and penalties charged on these deferred payments.
This deferral relates to federal tax payments only and we are still waiting to receive more exact details. We will continue to keep a keen eye on further developments as well as decisions made at the state level.
We are committed to communicating with you and will remain in touch as more information becomes available.
We will continue to navigate this uncertain time as we always have – together.
Your Edelstein Team