Treasury Defers Tax Payments, Waives Interest and Penalties for 90 Days
This post was updated on March 20.
Treasury Secretary Steve Mnuchin announced on March 18 that households and small businesses can defer tax payments without interest or penalties for 90 days.
This covers a broad range of Americans, including small businesses that file as individuals who owe up to $1 million, and other categories of small businesses, sole proprietors, and corporations owing up to $10 million.
Penalties and interest that would otherwise apply during this nearly three-month period will be waived.
On March 20, Secretary Mnuchin tweeted that the tax filing deadline would be pushed back 90 days to July 15. “We are moving Tax Day from April 15 to July 15,” he tweeted. “All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.” Mnuchin noted the action was made at President Trump’s direction.
View more details. Note that this Treasury release was put out before the secretary announced the change to the April 15 filing deadline.
NAHB is providing this information for general information only. This information does not constitute the provision of legal advice, tax advice, accounting services, investment advice, or professional consulting of any kind nor should it be construed as such. The information provided herein should not be used as a substitute for consultation with professional tax, accounting, legal, or other competent advisers.Latest from NAHBNow
Student Chapters | Workforce Development
Jul 25, 2025
NAHB's Student Chapters Helped Give Her Confidence to Pivot CareersZhetique Gunn's early exposure to building and problem-solving has led to national recognition and a city-level impact as an urban planner in Washington, D.C.
Jul 24, 2025
Federal Court Upholds New York State Gas BanThe federal court for the Northern District of New York on July 23 upheld New York state’s “gas ban” legislation. New York’s legislation is the first statewide law that restricts natural gas use in new buildings, effectively banning gas stoves and other fossil fuel appliances in most new construction starting in 2026.
Latest Economic News
Economics
Jul 25, 2025
Market Share of 5,000+ Square Foot New Homes Started Declines in 2024In 2024, there were 24,000 homes that exceeded 5,000 square feet, equating to a 2.3% market share of all new homes started. Both the number and market share for 5,000+ square foot homes experienced declines from 2023, according to the annual data from the Census Bureau’s Survey of Construction (SOC).
Economics
Jul 24, 2025
New Home Sales Hold Steady at a Relatively Tepid LevelChallenging affordability conditions, elevated interest rates and economic uncertainty continue to act as headwinds on the housing sector as many potential buyers continue to stay on the sidelines.
Economics
Jul 23, 2025
Existing Home Sales Retreat to 9-Month LowExisting home sales fell to 9-month low in June as home prices hit another monthly record high, according to the National Association of Realtors (NAR). Sluggish pace of sales suggest that higher mortgage rates and elevated home prices are continuing to sideline buyers, despite improved inventory conditions.