Things to know ahead of Tax Day

This year’s tax deadline was pushed back to July 15 due to the COVID-19 pandemic. We spoke with Blau Company President, Aaron Blau about the changes people should be aware of before filing their taxes.

Originally the tax deadline was set for April 15, but due to the COVID-19 pandemic, The Department of Treasury and IRS decided to push it back. The department’s decision has given many the time they need to properly file.

One of Blau’s biggest recommendation for those self-employed is to pay quarterly estimated tax payments.

The IRS urges people who owe taxes, even if they have a filing extension, to carefully review their situation and pay what they can by July 15 to avoid penalties and interest. For those that can not pay the IRS has multiple options to help those out.

Furthermore, the most important thing to know according to Blau is if you have a balance due to make the payment by July 15. He recommends people use the IRS online direct payment system instead of the usual check. By doing so he says you can get your payment processed quicker.

For those that still need beyond July 15, you can file for extension up to October 15. You can find more information on filing your taxes and resources here.


Sponsor message:

In this segment:

Aaron Blau, EA, CPA, The Blau Company

Sponsor message:

Inside The Met: All Things to All People?

Questions are raised about some of The Met’s most treasured objects, many obtained unethically and reflecting the tastes of the wealthy 19th-century industrialists and entrepreneurs who founded the museum.

Life at the Waterhole

Dr. M. Sanjayan and his team uncover the complex dynamic of this bustling oasis where elephants, lions and leopards compete for water.

Nova "High-Risk, High-Rise"

Skyscrapers are gleaming symbols of prestige, and an ingenious way to save space in dense urban areas. But as buildings rise ever higher, what are the risks of these architectural behemoths? Do we truly know how they will hold up in earthquakes, fires, and other potential disasters? What have--or haven’t—we learned from past tragedies?