Treasury Defers Tax Payments, Waives Interest and Penalties for 90 Days
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
Sep 17, 2025
Housing Starts Remain Soft Ahead of Fed MeetingOverall housing starts decreased 8.5% in August to a seasonally adjusted annual rate of 1.31 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.
Sep 16, 2025
Tradeswomen Paving Their Own WayNAHB spoke with Professional Women in Building (PWB) members Elyse Adams and Brittney Quinn about their career paths in the trades and how PWB has positively influenced their journeys.
Latest Economic News
Sep 17, 2025
The Fed Cuts and Projects More Easing to ComeAfter a monetary policy pause that began at the start of 2025, the Federal Reserve’s monetary policy committee (FOMC) voted to reduce the short-term federal funds rate by 25 basis points at the conclusion of its September meeting. This move decreased the target federal funds rate to an upper rate of 4.25%.
Sep 17, 2025
Housing Starts Remain Soft Ahead of Fed MeetingChallenging affordability conditions continue to act as headwinds for the housing industry, but the sector could see lower interest rates in the near future with the Federal Reserve expected to cut short-term interest rates this afternoon.
Sep 16, 2025
Builder Confidence Steady but Future Sales Expectations Hit Six-Month HighBuilder sentiment levels remained unchanged in September but lower mortgage rates and expectations that the Federal Reserve will soon cut the federal funds rate led to higher future sale expectations in the coming months.