Did you file an extension before May 17th, the IRS-extended spring deadline this year?
If you did…did you remember to make a payment with it?
No?
Well, that’s not ideal, but there are worse things.
“What, pray tell, do you mean, dear Eric?”
If you filed an extension for your 1040 return, and you manage to blow past the October 15th deadline?
That would be worse.
You’ll not only owe interest and penalties on the tax you didn’t pay with your extension, but if you procrastinate the deadline, you get another penalty known as failure-to-file.
A little extra sugar frosting for the poop-cake you’re already eyeing up with disdain and dread.
But wait! It’s still only September!
Oh yeah, baby, that’s right. LATE September.
If you’re reading this the day I posted it, you have just 19 days left until midnight, Friday, October 15th, 2021.
The final major tax deadline.
I say major because there are some others that don’t matter to as many people.
The payroll tax deadline for Q3 2021 is 10/31/21, Halloween in fact.
But, if you don’t have employees of your own on payroll, you’re not sweatin’ that one so much.
Also, if you are a wage earner with no other source of income and decent withholdings coming out of your paychecks they don’t care.
Did you know that?
You can file for your refunds up to 3 years from the filing deadline.
In fact, they count on you to forget.
Billions of dollars in unclaimed refunds remain in the U.S. Treasury.
BILLIONS.
EVERY YEAR.
They won’t send you any letters to remind you that they’re spending your money for you, and/or earning your interest on it.
When the three years elapses (insert game show buzzer sound here)…time’s up! What do we have for the losers, Johnny?
You can’t file for it any more. Period.
If you are a wage earner, and haven’t filed your return to claim your refund yet, raise your hand.
Yup, you know what’s coming next, right…???
Slap yerself upside the head with that hand. HARD.
Then, get your money back from those ruthless bastards. Now!
But I digress, as I have been known to do.
The people I’m (mostly) talking to here are my fellow small business-folk and sundry entrepreneurial-types.
Especially the ones that either are not working with me yet (MY people know better), or don’t know about (or care about!) making estimated tax payments during the year.
You didn’t have your paperwork together in April, and even though Uncle Sugar (my pet-name for the ultimate piggy bank, the Federal Government) gave you another month, you still needed an extension.
So… you got that in. Great!
Now, it’s time to scoop your poop into a group, and get the ugly necessity of tax compliance over and done with, and behind you for the year.
Are you prepared?
More importantly, are you starting to realize that you HATE feeling like this?
It’s happened in past years, too, now, hasn’t it?
Wouldn’t you like to turn a new page in your story, and get on top of this once and for all?
I’m telling you that you not only CAN do this, but you can make it so taxes never stress you out, ever again.
One of my all-time favorite rock songs has a couplet that I have loved since my teens. It goes like this:
“You can choose a ready guide in some celestial voice.
If you choose not to decide, you still have made a choice.” (Credit: Neil Peart – “Freewill”)
You can decide to live in agonizing and avoidable stress.
Subjecting yourself to surprise penalties and excess unnecessary interest.
Tossing and turning in that bed you’re supposed to be sleeping soundly in.
Or! You can begin winning the game of income tax for yourself.
Your business.
Your family, and most of all for yourself.
If you have come this far bless you and thank you.
I leave you with an offer of help.
Allow me to be your “ready guide.”
If you are still deciding what to do about getting your filing done, get ahold of me.
NOW!
Let’s talk about how having year-round tax planning can change your life and restore your sanity.
No kidding. Let’s do this!
My link for a free 30-minute call is here: https://www.owingsllc.com/work-with-me
I’m looking forward to talking to you about I help others, and how I can help you, too.
Time is getting away from us, counting down from 19 days. Do it right now.
Okay?
See you soon!