Springing Forward Into March Madness And Tax Filing Deadline
We’ve ‘sprung’ forward, we’re nearing the tax filing deadline and some of you may feel like you’re in the middle of what can only be described as March madness. And, it has nothing to do with college basketball!
With the earlier date for springing forward, many people are having a hard time adjusting and are feeling sleep deprived as they wake up in what appears to be the middle of the night. Present company included!
Another issue that contributes to March madness is the looming tax filing deadline.
Perhaps you haven’t paid your taxes in a year or two or three. Maybe you’re considering sticking with this trend. Maybe the IRS has not yet caught up with you, though that isn’t likely. Whatever tax related madness you’re in the midst of, I can help.
Entrepreneurs and The Self-Employed
I see tax issues plaguing entrepreneurs and self-employed business people simply more often than not because they don’t get a paycheck and have taxes withheld. For some reason, truck drivers, hairstylists and contractors are among the top three categories of businesses that find themselves in a bind at tax time.
If you get hit with a big tax bill and can’t pay it, you may have a tendency to ignore it as long as possible. If you haven’t put funds aside on a monthly basis or made quarterly payments, you will pretty much always get caught short. The reason for non-payment that I hear consistently is that no one knows how much to send the IRS on a quarterly basis. News flash: any amount will do versus nothing! Whatever you send, will be deducted from what you owe. Heck, you might even be entitled to a refund!
Fear of Fees and Penalties
I don’t think you think about the fees and penalties that add up when you don’t pay your taxes. However, they add up quickly and can make your tax bill even more overwhelming. I understand the fear and I understand the sense of being overwhelmed with it all. That’s why I’ve assembled a team of tax professionals who are able to leverage their experience and knowledge of the law to stand up to the IRS and state tax agencies when they seem to be threatening my clients’ livelihood.
Because my team knows how to deal appropriately with the IRS and state tax agencies, you can relax and rest assured you will get the absolute best and fairest treatment.
Most tax resolution companies won’t bother to ask you why you didn’t file your tax returns or pay your taxes.
My team does and the answer can make a huge difference in reducing penalties and interest, which can add up to 75% of the amount owed to the IRS. Sometimes, there’s a very good reason why you didn’t file or pay. When there are unforeseen medical emergencies or a less-than-honest bookkeeper your chances for leniency increase.
Whatever your reason is for filing late or not paying, don’t worry. We can help you resolve the madness and keep you on track once and for all.