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
Advocacy
Dec 05, 2025
NAHB's Monthly Update Features Talking Points on Advocacy Victories in 2025The update provides the latest messaging framework to help members articulate all the legislative, regulatory and business wins NAHB secured this year.
Design
Dec 04, 2025
Top Color Trends for 2026Neutrals and rich, luxurious hues dominate this year's color trends, along with sophisticated greens. Whether you’re helping a client with a bathroom remodel or searching for fresh ideas for a model home, you can use these color trends for inspiration for your next project. Check out the 2026 Colors of the Year.
Latest Economic News
Economics
Dec 05, 2025
Mortgage Rates Continue to Trend Lower in NovemberThe average mortgage rate in November continued to trend lower to its lowest level in over a year. According to Freddie Mac, the 30-year fixed-rate mortgage averaged 6.24% in November, 2 basis points (bps) lower than in October. Meanwhile, the 15-year rate increased 3 bps to 5.51%.
Economics
Dec 04, 2025
Number of Bathrooms in New Single-Family Homes in 2024Single-family homes started in 2024 typically had two full bathrooms, according to the U.S. Census Bureau’s Annual Survey of Construction. Homes with three full bathrooms continued to have the second largest share of starts at around 23%. Meanwhile, both homes with four full bathrooms or more and homes with one bathroom or less made up under ten percent of homes started.
Economics
Dec 03, 2025
House Price Appreciation by State and Metro Area: Third Quarter 2025House prices continued to rise in the third quarter of 2025, though the pace of growth slowed as elevated mortgage rates, affordability challenges, and persistent economic uncertainty weighed on consumer demand. After several years of rapid growth, Hawaii and 38 metro areas saw house price declines this quarter, highlighting significant regional variations in market conditions.