As part of the federal government's response to the Coronavirus crisis, the Internal Revenue Service issued guidance allowing all individual tax filers to defer up to $1 million of federal income tax (including self-employment tax) payments originally due on April 15 until July 15 without penalties or interest. Similarly, the new deadline for corporate tax payments up to $10 million is also July 15.
The IRS encourages filers to meet the April 15 deadline so they can receive refunds sooner. The states are expected to follow suit, and we will keep you updated.
U.S. Department of Energy
Filling Strategic Petroleum Reserve to Provide Relief to
Oil & Gas Industry
At the direction of President Trump, US Energy Secretary Dan Brouillette has announced that his department will be purchasing 77 million barrels of American crude oil to fill the nation's Strategic Petroleum Reserve to maximum capacity amid the COVID-19 crisis and unstable markets.
For more information, including information on how solicitations are being tooled for small to midsize producers, see the DOE's official announcement.