National Emergency Authority To Temporarily Extend Deadlines for Certain Estimated Payments
Executive Order 2020-08846
|Signed on April 19, 2020
45th Presidency
What it means
Authorizes the Treasury Secretary to temporarily extend deadlines for certain estimated import tax payments for businesses experiencing financial hardship due to COVID-19. This provides relief during the pandemic while requiring consultation with Homeland Security before implementation.
Expected impact
- Financial relief for importers struggling with cash flow issues during the COVID-19 pandemic
- Potential improvement in business continuity for affected importers by allowing them to defer certain payments
- Enhanced economic stability by providing temporary flexibility for businesses facing hardship
- Protection of critical supply chains by alleviating financial pressure on importing companies