In his address from the Oval Office Wednesday night, President Donald Trump announced that he will instruct the Treasury Department to allow individuals and businesses negatively affected by the coronavirus to defer their payments past the April 15 filing deadline.
In addition to using his emergency authority to allow taxpayers affected by the coronavirus, Trump said the Small Business Administration would start providing low-interest loans for businesses in state and U.S. territories impacted by the virus.
Earlier that day, Treasury Secretary Steven Mnuchin told Congress that the delay would apply to virtually all Americans other than the very wealthy. He did not disclose a date for the new filing deadline.