Coronavirus live updates: Tax deadline delayed, UK pledges business relief

This is CNBC’s live blog covering all the latest news on the coronavirus outbreak. All times below are in Eastern time. This blog will be updated throughout the day as the news breaks. 

  • Global cases: More than 183,000, according to Johns Hopkins University.
  • Global deaths: At least 7,167, according to Johns Hopkins University.
  • U.S. cases: At least 4,661, according to Johns Hopkins University.
  • U.S. deaths: At least 85, according to Johns Hopkins University.

The federal government will give filers 90 days to pay income taxes due for 2019 on up to $1 million in tax owed, Mnuchin said said at a press conference. The reprieve on that amount would cover many pass-through entities and small businesses, he said.

Corporate filers would get the same length of time to pay amounts due on up to $10 million in taxes owed, Mnuchin said. During that three-month deferral period, taxpayers won’t be subject to interest and penalties, he said. —Darla Mercado

Lyft joined Uber in suspending shared rides across all of its markets because of the coronavirus. “The health and safety of the Lyft community is our top priority, and we’re dedicated to doing what we can to slow the spread of COVID-19,” the company said in a statement on Twitter. “We will continue to monitor the situation closely and base our actions on official guidance.” Uber suspended pooled rides in the U.S., Canada, London and Paris. —Hannah Miller

The United Auto Workers union has asked the Big Three Detroit automakers to shut down production for two weeks to safeguard its members from the coronavirus outbreak. 

In a letter to union members, UAW President Rory Gamble said Ford, General Motors and Fiat Chrysler haven’t been willing to implement the request. A task force meeting is scheduled for later today. —Noah Higgins-Dunn, Christina Cheddar-Berk

Not until a global pandemic landed in the U.S., forcing the widespread closure of businesses across cities and states, did the concept of universal basic income move from the labs of northern California into the mainstream.

Policymakers are rapidly discovering that, with income poised to completely dry up for workers at restaurants, bars, movie theaters and hotels, millions of non-salaried Americans living paycheck to paycheck could soon be unable to afford food, rent and utility bills. Putting cash in their pockets may be the most efficient way to ease the burden. —Ari Levy


You may like

In the news
Load More