Home Foreign Coronavirus: Donald Trump approves deferral of $300 billion for tax payments

Coronavirus: Donald Trump approves deferral of $300 billion for tax payments

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President Donald Trump has approved the deferral of some $300 billion in tax payments to the Internal Revenue Service to help Americans weather the economic impact of the coronavirus crisis.

Treasury Secretary Steve Mnuchin made the announcement on Tuesday while briefing media.

“We aim to allow 300 billion dollars in tax deferrals.’’

Mnuchin added that individuals can defer up to one million dollars in payments to the IRS without being charged for penalties and interest, while corporations can defer 10 million dollars in tax payments.

In another development, Trump said at a news briefing that telehealth services in the United States would be expanded dramatically amid the novel coronavirus (COVID-19) outbreak.

“Today, we are also announcing a dramatic expansion of our Medicare telehealth services.

“Medicare patients can now visit any doctor by phone or video conference at no additional cost, including with commonly used services like FaceTime and Skype.’’

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