What Does a Tax Accountant Do After the Last Return is Filed on April 15th?

Originally published in the Cedar Street Times

April 17, 2015

 

As I am writing this article, it is the evening of April 15.  Phew!  I decided to take a break from the Back to Basics series to pen a sigh of relief.  Every tax season has its own unique flavor, its own sense of flow and timing, and its own trials and tribulations, but one thing they all have in common is an end date!  “End date,” is a rather soft term as there are lots of extended returns to complete during the rest of the year, but the most intense time is over.  Sometimes people assume we all have our airline tickets in hand and head off on vacation the very next day.  Only once have I tried this…we left for a vacation on April 18th – but it was just too rushed!  The reality is that there will still be a flurry of activity over the next few weeks finishing up returns that were close to completion.   But the majority of extended returns will be completed later when missing information rolls in.

Sometimes early filers think that only lazy people extend their returns (!), but that is far from the truth.  There are many people who are waiting on required information that is beyond their control, and that information may not show up until the summer or even the fall.  And occasionally, you will have legitimate situations where required information does not come until after the extended due date in October!  For some people, filing an extension allows them to work on their tax details when their business or personal life is slower.  And yes, there are the procrastinators as well!  But whatever the reason, it is necessary to have extenders, as there is no way tax preparers could prepare every tax return in America by April 15th – especially when Congress is still changing the rules well into January in some years, and then not requiring reporting to taxpayers until late February or March in some situations.  Even with extensions, I would love to see America move to a system that spreads return due dates throughout the year, perhaps based on birth dates, or something of that nature.  It would be better for taxpayers, for the taxing authorities, and for tax preparers.  Maybe I need to run for Congress.

All of this said, I always take April 16th off as a personal day.  It just helps to decompress.  So what am I doing?  I am taking my three-year-old son, Elijah, in the morning to his first gymnastics class.  We will then rendezvous with Mommy and nine-month-old Claire at an increasingly familiar dining establishment Elijah calls “Old McDonald’s,” and learn about Mommy and Claire’s time at Parents’ Place in Pacific Grove.   In the afternoon, the kids will go to daycare for a few hours while Mommy works.  (I half-cringe, every time I use the word “kids” in reference to my children as I had a Political Science teacher in college that wouldn’t tolerate that reference and would always let us know that kids are baby goats.  But as one of my English professors in college also said, once you know and understand grammatical rules, then are you free to break them!  I like the word “kids,” and I’m sticking to it…besides, a nine-month-old eats anything it can put in its mouth anyway – very goat-like.)

This leaves Daddy all by himself for an afternoon!  If it is a nice day, I may take the motorcycle out and cruise down the coast, or maybe play a round of golf.  Of course, I will bring my wife some flowers, but I won’t be doing taxes!

We will take a vacation, but not until May, when we head down with some friends and take our “baby goats” to graze in Disneyland for the first time!  That should be fun!  We will also fit in a third birthday party for my son who turned three on April 3rd.  For some reason, Daddy was not able to fit a party into his schedule in early April…sorry, but you are going to have to get used to it kid – besides you were the one that decided to be born two-and-a-half weeks early even though I clearly explained all of this to you while you were in the womb!  Elijah loves fire trucks, so we want to extend a special thank you to the people at the Pacific Grove fire station who have agreed to host a bunch of three-year-olds!

Prior articles are republished on my website at www.tlongcpa.com/blog .

Travis H. Long, CPA is located at 706-B Forest Avenue, PG, 93950 and focuses on trust, estate, individual, and business taxation. He can be reached at 831-333-1041.

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