Treasury Secretary Steven Mnuchin announced the new 2020 deadline via Twitter. “At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.” (Las Vegas Review-Journal)
There’s a little more than five weeks until this year’s tax filing deadline of April 17. But many small business owners are wondering, “How am I going to pay my taxes?” When owners haven’t set aside enough money to cover what they owe the government, they have options. — The easiest and cheapest alternative may be to dip into personal savings. — If you have available credit, you may want to borrow from a lender or credit card. — Also, the IRS can work out an installment payment plan.
