Taxpayers Can Delay Payments for 90 Days, Must File by April 15

The Treasury Department issued guidance saying that taxpayers can delay paying some federal income taxes for 90 days but still must submit their forms to the Internal Revenue Service -- or officially request an extension -- by April 15.

Individuals can delay payments of up to $1 million in taxes and corporations can get payments of up to $10 million deferred until July 15 without interest and penalties, according to a notice published Wednesday.

“Americans should file their tax returns by April 15 because many will receive a refund. Those filing will be able to take advantage of their refunds ...