The IRS will postpone the April 15 tax deadline by 90 days for hundreds of thousands of people who owe $1 million or much less and companies that owe $10 million or much less, Treasury Secretary Steven Mnuchin mentioned Tuesday in a press convention. USA At this time studies:

To make certain, Individuals nonetheless have to satisfy the April 15 deadline if they’re anticipating a refund or are requesting a six-month extension, however they’ll defer fee for as much as 90 days past that.

“We encourage these Individuals who can file their taxes to proceed to file their taxes on April 15 as a result of for a lot of Individuals, you’ll get tax refunds and we don’t need you to lose out on these tax refunds,” Mnuchin mentioned. “We would like you to be sure to get them.”

“All you need to do is file your taxes,” Mnuchin mentioned. “You’ll routinely not get charged curiosity and penalties.”