Tax Updates

For individuals, the Internal Revenue Service (IRS) will postpone the April 15 federal tax-payment deadline for another 90 days. The IRS will also waive interest and penalties. This delay is available to people who owe $1 million or less.  Go to https://www.cnbc.com/2020/03/17/treasury-and-irs-to-delay-tax-deadline-by-90-days.html

For businesses, the Internal Revenue Service (IRS) will postpone the April 15 tax-payment deadline for another 90 days. This will apply to corporations that own $10 million or less.  https://www.cnbc.com/2020/03/17/treasury-and-irs-to-delay-tax-deadline-by-90-days.html

Illinois has not yet announced if it will extend the state income tax deadline.

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