Treasury Secretary Steven Mnuchin announced his department is pushing back the April 15 tax payment deadline, giving individuals and many businesses an extension to pay taxes they owe.

Individuals can defer up to $1 million of tax liability and corporations get an extension on up to $10 million, Mnuchin said Tuesday at a press conference.

“All you have to do is file your taxes,” he said. “You’ll automatically not get charged interest and penalties.”

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US Department of the Treasury