April 15 Tax Payment Deferral Further Clarified

In recent F.A.Q. guidance on the scope of delayed tax filing and payment, the I.R.S. announced that installment payments of transition tax are also delayed to July 15th.

Additionally, the dollar imitation that initially applied ($1M for individuals and $10M for corporations) no longer applies.

Here is a link to the full F.A.Q. guidance of the I.R.S. See Q8. for more information.

The full notice can be read here.