Tuesday, 18 April 2017 16:45

The Taxman Cometh

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Today -- April 18th, 2017 --  is the last day you can file your Federal Income Taxes. Uncle Sam has bills to pay and expects your check in a timely manner. I usually do my taxes at the last minute and this year was no different. I have oft wondered, “Is this the year where I don’t get my taxes done in time and have to file an extension?”

 

Thankfully, the answer is, “Nope. Not this year!” But what does one do if one has not yet filed their taxes? You can link jump to irs.gov and fill out: Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return. It’s a pretty simple form.

 

Keep in mind if you file for an extension there may or may not be late fee penalties, accrued interest, nasty letters from the IRS, collection agents, tax levies and / or liens. Consequences all depend if you are filing late or not filing at all. There is a huge difference in the amount of consequences between filing late and not filing. All sorts of bad thing can happen to you up to and including jail time if you fail to file your taxes on time or at all. So don’t do it.

 

Even celebrities get in trouble for income tax evasion! And celebrities can get away with nearly anything. Here is a partial list of Celebrities Who Were Forgiven For Their Horrible Acts. I mean, look at that list! Matthew Broderick has killed people! And his grand punishment was that he had to fork over a colossal fee of -- $175. Not $1.75 million or $175 million.Nope. One hundred and seventy five dollars! For killing two people! Like I said, celebrities can get away with a lot of awful stuff. But not tax evasion. Just ask Martha Steward or Wesley Snipes or Willie Nelson or Nicolas Cage.  

 

Point being, the tax man gets his money. It doesn’t matter if it’s your $284 or Nicolas Cage’s $6 million. The tax man always wins. So file today  and you free, free, free from the tax man!


Well, until next year. Or until your extension expires. I guess I take that back. You will not be free. There is a reason, “Death and Taxes,” is a colloquialism. Nothing is inevitable except for … well, you know.

 

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