A friend of mine posted this on Facebook this morning and it totally cracked me up. She saw it posted by a tax return site. What a great attention-grabber! Quite possibly more effective than the dancing Lady Liberty, or the plethora of flags and dancing signs.
Every new year, some new Nostradamus prediction is blasted across the tabloids at the supermarket and online. I'm suggesting that Mr. Nostradamus change his prediction dates from January to April 15th. Surely, they'd be a bit more believable. Merely the mention of "the end" around a tax preparer and it doesn't matter what you're saying, they'll hear "the end" and they'll believe anything!
For the past few weeks, I've been wearing dual hats; well, I always wear more than one, but during tax season this year, I've been doing back-of-house tasks (don't worry - I let the professionals do the returns!) and I have to say, I can only hope that "The End is Near!"
Yes, tax preparers all over the country are feeling the pressure and time is ticking for citizens to do their duty by midnight tonight. If you've filed your taxes, then today is like any other day for you. However, if you're in the back of the pack, rushing to the finish line, I just have one thing to say:
"Hurry, the End is Near!"
We'll be here at the office late into the evening, so there's still time to get an extension filed.
Monday, April 18, 2011
Friday, April 8, 2011
Uncertainty of the Future Brings A Special Alert from the IRS
"That man is prudent who neither hopes nor fears anything from the uncertain events of the future." Anatole
We live in uncertain times; just like our ancestors believed about their situation and undoubtedly our children will believe about theirs. I realize this may seem a little deep for a tax and accounting blog, but it's been proven time and again that when you are diligent to prepare for the known, the unknown - when it happens - is not such a big deal. While the government potentially shutting down is big, you can safeguard yourself against some of the fall-out. Just like the IRS has a contingency plan for the "Funding Lapse", having your taxes done (or at the least, an extension filed) before the deadline will result in little impact for you.
The IRS today reminded taxpayers that tax returns will still be due on April 18 even in the event of a government shutdown. This includes any return otherwise due on that date including all tax returns or estimated tax payments. IRS emphasized that e-filed returns will continue to be processed and refunds will be issued if due on an e-filed returns. The processing of paper returns will be delayed as will any taxpayer refunds due on paper returns. However, any checks or payments submitted with a paper return will continue to be processed.
IRS also announced the agency’s contingency plans in the event of a government shutdown. Generally speaking, automatic IRS functions will continue to be available. One major exception to this general rule is that the taxpayer hotline will continue to be available, but only for taxpayer questions involving an individual income tax return.
By contrast, functions involving contact with IRS will generally be unavailable. The IRS said that any previously scheduled appointment with IRS personnel will be cancelled, including appointments with collections, appeals or the taxpayer advocate’s office. The practioner priority hotline will be unavailable and will any walk-in taxpayer assistance center. No new liens will be filed or issued, however any lien notices already on the way to the post office will continue to be delivered.
Meanwhile, anyone having a specific question may gain further insight by reviewing the overall IRS contingency plan at http://www.treasury.gov/connect/blog/Documents/IRS-Funding_Lapse_Contingency_Plan2011.PDF
We live in uncertain times; just like our ancestors believed about their situation and undoubtedly our children will believe about theirs. I realize this may seem a little deep for a tax and accounting blog, but it's been proven time and again that when you are diligent to prepare for the known, the unknown - when it happens - is not such a big deal. While the government potentially shutting down is big, you can safeguard yourself against some of the fall-out. Just like the IRS has a contingency plan for the "Funding Lapse", having your taxes done (or at the least, an extension filed) before the deadline will result in little impact for you.
The IRS today reminded taxpayers that tax returns will still be due on April 18 even in the event of a government shutdown. This includes any return otherwise due on that date including all tax returns or estimated tax payments. IRS emphasized that e-filed returns will continue to be processed and refunds will be issued if due on an e-filed returns. The processing of paper returns will be delayed as will any taxpayer refunds due on paper returns. However, any checks or payments submitted with a paper return will continue to be processed.
IRS also announced the agency’s contingency plans in the event of a government shutdown. Generally speaking, automatic IRS functions will continue to be available. One major exception to this general rule is that the taxpayer hotline will continue to be available, but only for taxpayer questions involving an individual income tax return.
By contrast, functions involving contact with IRS will generally be unavailable. The IRS said that any previously scheduled appointment with IRS personnel will be cancelled, including appointments with collections, appeals or the taxpayer advocate’s office. The practioner priority hotline will be unavailable and will any walk-in taxpayer assistance center. No new liens will be filed or issued, however any lien notices already on the way to the post office will continue to be delivered.
Meanwhile, anyone having a specific question may gain further insight by reviewing the overall IRS contingency plan at http://www.treasury.gov/connect/blog/Documents/IRS-Funding_Lapse_Contingency_Plan2011.PDF
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