U.S. Treasury Secretary Mnuhcin: IRS will defer $300 billion in IRS payments

Market news

17 March 2020

U.S. Treasury Secretary Mnuhcin: IRS will defer $300 billion in IRS payments

IRS will not charge interest and penalties on deferral for 90 days

We're looking at sending checks to workers immediately, within next two weeks

Corporations can defer tax payments of up to $10 million

Relief figures "may be bigger" than what's in the press ($1000)

Government wants to make sure fast-food drive-throughs stay open

Hopes stimulus legislation will help laid-off workers in hotel industry

We absolutely believe in keeping markets open

We may get to point where we shorten market trading hours

European stocks closed: FTSE 100 5,283.12 +132.04 +2.56% DAX 8,939.10 +196.85 +2.25% CAC 40 3,991.78 +110.32 +2.84%

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