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Is it really April 15th!!!!

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#1
EZTAX  
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Came to work late and leaving early. First time in many decades not working 12+ hours the 14th and many the 15th! Feels really surreal. Anyone else a little uncomfortable with the strangeness?
 

#2
Joan TB  
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yes, very weird! I was thinking earlier that I would go home at 5 or so JUST BECAUSE I CAN!!
 

#3
JR1  
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Have enjoyed the sleep and no anxiety this year. I could do this every year. About 25% of my returns are still out there....
Go Blackhawks! Go Pack Go!
Remembering our son, Ben Jan 22, 1992 to Aug 26, 2011.
For FB'ers: https://www.facebook.com/groups/BenRoberts/
 

#4
Wiles  
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Hey Jeff! You changed your tune.
 

#5
Keyad22  
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My friend is a CPA in NC. She told me she has to work as hard as prior year because NC did not extended tax balance due without any interest.

That's a lot of work plus SBA loan consultation.
 

#6
JR1  
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Wiles, my mate, you are correct! I'm usually so compulsive that as soon as a package hits the desk, I get it off the desk.

Now....kinda diggin' livin' like I'm Jimmy Buffett time....more rum. And a nap.
Go Blackhawks! Go Pack Go!
Remembering our son, Ben Jan 22, 1992 to Aug 26, 2011.
For FB'ers: https://www.facebook.com/groups/BenRoberts/
 

#7
Wiles  
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I thought by now you would have had all of your tax returns done, laid yourself off, and been hanging out on the deck waiting for your PUA check to come in.
 

#8
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JR1 wrote:Wiles, my mate, you are correct! I'm usually so compulsive that as soon as a package hits the desk, I get it off the desk.

Now....kinda diggin' livin' like I'm Jimmy Buffett time....more rum. And a nap.


That’s what I’m saying... congratulations everyone!
 

#9
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Aye, Keyad, it's been hard getting the NC payments figured out, even though there is a draft bill in the General Assembly to give NCDOR authority to waive interest this year (the bill also extends the due date for filing a 2016 return and getting a refund). It feels very strange that I am about to switch my computer off before midnight. This year, no bleary-eyed drive home. I just walk down the stairs for a generous slice of pineapple turnover.

I suppose everyone will want their return done so they can get their stimulus check by direct deposit. It's going to be a long summer.
 

#10
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Yes, NC legislature has been a big disappointment during all of this. I worked really hard to get most of my returns out so people would not have to pay the interest. I have a few that came in fairly late that I am not worried so much about, as I will get them done in the next couple of weeks. It has been nice not to have to round up last minute e-file authorizations that have not come in and prepare extensions.

I'm just hoping I haven't missed filing something in another state that did not get an extended due date. I tried to research everything on clients that I know have filing requirements in other states, but something could have easily slipped by me.
 

#11
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EZTAX wrote:Came to work late and leaving early. First time in many decades not working 12+ hours the 14th and many the 15th! Feels really surreal. Anyone else a little uncomfortable with the strangeness?


I made a rule many years ago, back when I was working for another firm, that April 15th was always a day to relax. Sure, you have to wrap up a few things, and maybe you have a few meetings that day, but ultimately if you show up for 8 hours you only work 3 of them. You're there for emergencies, but anything else can wait.
 

#12
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Seaside, they have been working behind the scenes, to be just a touch fair to them. The draft bill is undergoing revisions at each virtual select committee meeting. Hopefully, that means they will just get on with the job of passing it on April 28th. Of course, that is too late for those of us who rushed to get something to clients by yesterday, including a 2016 amended return.

I also think the Department of Revenue needs a swift kick in the pants for announcing an extension to the March 16th deadline on March 17th.
 

#13
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Sumwun, they knew this was an issue when they extended the filing and payment deadline. I know they have said they "support" waiving the interest. I certainly have not advised my clients NOT to pay by April 15 just because some have stated they support it. Currently, the law says they will be charged 5% interest on the late payment. The clients I have discussed all of this with have stated they will go ahead and pay NC rather than take the risk it doesn't pass.
 

#14
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Same here, Seaside. I had one retired client who decided they were going to pass the bill and told me not to send him a voucher. All others have said they are going to pay.
 

#15
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FL
When I was doing taxes, I always closed at noon on the 15th. By 12:30, I would be sitting by the pool with a beer.
My theory was that anything that came flying in the door that HAD to get done immediately, would probably end up wrong. Client would then conveniently forget that they had procrastinated and it would instead be my problem because I got it wrong
 

#16
dianaf  
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I need to figure out everyone's secret. I've worked harder this April than any in my 35 year career and I've barely touched an income tax return since the 1st of April! 16 hour days on PPP loans, EIDL loans and general consulting/counseling with clients on how, or even if, they are going to stay in business. I'll take a "normal" April 14th and 15th any day to what this last 2 weeks has been like!
 

#17
CathysTaxes  
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Bottom Line wrote:When I was doing taxes, I always closed at noon on the 15th. By 12:30, I would be sitting by the pool with a beer.
My theory was that anything that came flying in the door that HAD to get done immediately, would probably end up wrong. Client would then conveniently forget that they had procrastinated and it would instead be my problem because I got it wrong

The only work I do on the 15th is check efile statuses.
Cathy
CathysTaxes
 

#18
Wiles  
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dianaf wrote:I need to figure out everyone's secret. I've worked harder this April than any in my 35 year career and I've barely touched an income tax return since the 1st of April! 16 hour days on PPP loans, EIDL loans and general consulting/counseling with clients on how, or even if, they are going to stay in business. I'll take a "normal" April 14th and 15th any day to what this last 2 weeks has been like!

I need to figure out your secret. I so much enjoyed not spending 4/7-4/14 in CYA mode doing as much and as little as possible to get my clients relevant extension and estimated tax numbers. That is the must stressful wasted week of the year.
 

#19
Gjkycpa  
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Fast forward to now. We hope to start contacting clients June 1st to sped them up. Based on our clients who have not been in yet (Have talked to most of them, so I think they will be in), I am afraid July 15th is going to be this years April 15th. Humans by their very nature, are procrastinators.
 

#20
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I have decided I am not going to push to get things out by July 15. I have been in contact with most of my clients that have not provided their tax info (as well as ones I am still waiting on remaining information from). I'm probably going to get in touch with them once again next week and will probably give them a June 10 deadline to get information to me, or they will be automatically extended. Then it's on them.
 

#21
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Yes, looks like most PPP loans will have the 8 week period ending in mid June and then the clients will be pushing to get the forgiveness application in ASAP. I have already been telling the clients do not rush the PPP Application as surely the rules will have changed many times by then. I am hoping for some sort of "all PPP loans under $500k are forgiven automatically" as I am sure the SBA and the banks are not looking forward to summer

Add that in to the mix with the 7/15 tax deadline and it is going to be brutal
 

#22
Wiles  
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I am hoping for some sort of "all PPP loans under $500k are forgiven automatically"

Yes. I would wager we will see something like that, i.e. not subject to the FTE rule or the 25% wage reduction rule.

Something like -- "Just show us your 2nd quarter 941. If Q2 gross wages > loan, then 100% forgiveness."
 

#23
philly  
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In total agreement Wiles. I am studying the 12 page PPP loan forgiveness application and there should be an easier way for a small business to obtain loan forgiveness. I am hoping the 8 week period is extended to 16 weeks. This will help us all with the July 15th deadline.
 


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