My Dog At My W-2...and Other Excuses for Filing Late03.14.13
When do you file your taxes? Do you get them prepared right away or wait until the last minute? Now that we are halfway through March, we thought we'd take a look at some excuses for why people procrastinate when it comes to filing their taxes.
Excuse: I might owe money!
Reality: Even if you file now and owe money, it isn't due to the IRS until April 15.
Excuse: I don't know if I have everything I need to file.
Reality: By now, you should already have all forms required for your taxes. If anything is missing, your tax preparer will let you know.
Excuse: Money is tight. I can save by doing my own taxes.
Reality: The tax code has seen more than 4,000 changes in the past 10 years. Missing out on even a single deduction or credit could cost you BIG TIME. Leave it to a tax professional.
Excuse: If I wait, prices for tax prep will probably come down.
Reality: NOW is the time to look for a deal or bargain and beat the last-minute rush.
Excuse: My preparer is too busy.
Reality: You need to find a new preparer.
Excuse: I don't understand taxes.
Reality: That's ok. It's why tax preparers were invented.
Excuse: I have a headache.
Reality: Your headache might very well be caused by an acute case of "tax return procrastination." Our prescription? Visit a tax preparer, STAT, and put your worries aside.
Excuse: My Uncle Ralph promised to help me with my taxes.
Reality: Do you really want a guy more commonly known for his knock-knock jokes to handle your taxes?
Excuse: I can reduce my risk of an IRS audit by filing at the last minute.
Reality: You would be better served to rub your tax return with a chicken bone and mumble magic words. Last-minute filing has no impact on your audit risk.
Excuse: I really don't need a $3,000 refund right now.
Reality: No one actually said this. If you're like most people, you can probably use that tax refund money. File your return, get your refund and get on with your life.