With the Coronavirus shutting down several public institutions and forcing teleworking for millions of government employees, the IRS has announced, under the national emergency provision to tackle the Coronavirus, that they will postpone the April 15 tax-payment deadline by 90 additional days.
This will affect and likely help millions of tax payers to pay their 2019 income-tax bills by easing the economic pain inflicted by the Coronavirus outbreak. The delay is available to people who owe $1 million or less. This may also affect refund payments past the current estimated dates.
But individuals who need even more time to file their taxes late can apply for an extension online with tax software or file a form 4868 with the IRS.
So am I reading the tax thing correct if I owe 5 thousand dollars in taxes this year for 2019 I now have until July 2020 to pay them?