Americans are praying the government will give them breaks during these hard times.
Source: BRENDAN SMIALOWSKI / Getty
The Trump administration reportedly will allow individuals and businesses to delay paying their tax bills for 90 days. The current deadline was April 15 deadline but the push back is to ensure in an effort to inject as much as $300 billion into the economy to avoid a recession.
Taxpayers will still have to file taxes by the April 15 deadline but you won’t have to pay your tax payment for an additional 90 days.
Treasury Secretary Steven Mnuchin said individuals can delay up to $1 million in total payments. Corporations can delay up to $10 million.
Mnuchin also said the administration is looking into sending checks to Americans during the coronavirus outbreak. As far as how much has been debated among party lines.
Ohio Congressman Tim Ryan proposes the government give a minimum of $1,000 to all those who make less than $100,000.
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Source: 10TV
Federal Government Pushes Back Tax Payment Deadline By 90 Days was originally published on mycolumbuspower.com
