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Federal Tax Payment May Be Delayed 90 Days

MSK Client Alert
March 18, 2020

Treasury Secretary Steven Mnuchin announced that individual taxpayers may defer payment of tax bills up to $1 million for ninety days, interest and penalty free, as part of a coronavirus stimulus bill announced by the administration on March 17. According to the Secretary, the $1 million limit is intended to provide relief to small businesses and pass-through entities like partnerships and limited liability companies.

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