Top 4 Reasons Why Delaying Your Tax Filing May Be A Mistake
On Tuesday, March 17th, Treasury Secretary Steven Mnuchin announced that individual taxpayers get a ninety-day reprieve to pay the income tax they owe, making the revised federal tax filing deadline July 17th, 2020. This applies to individual filers who are due to pay up to $1 million in taxes. Corporate filers get the same length of time to pay up to amounts due on up to $10 million in taxes. During that three-month deferral period, taxpayers won’t be subject to interest and penalties. This applies to Federal taxes, while each state is making its own deferral decisions. California has announced…
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