Posts Tagged ‘April 15’

As April 15th nears, the pace, anxiety, and general chaos that overtake the typical accounting office is rivaled only by that of the local emergency room. Of course, we’re preparing Schedule Cs rather than saving lives, but hey, the tax industry is defined by nothing if not its sense of self-importance.

Amidst all of that chaos, it is easy for things to get lost in the shuffle. And that’s a damn shame, because while a preparer can put in a heroic effort to get a particular tax return done on time, those long hours and late nights do little to no good if you the preparer doesn’t actually, you know…remember to file the return.

It happens more than you can imagine; weeks or months of hard work undone by the seemingly simple process of dropping an envelope off at the post office. Of course, electronic filing has reduced the role of traditional mail in the filing process, but then as every tax preparer has learned, e-filing presents its own batch of potential landmines.

Continue reading on, Forbes.com

Authored by Tony Nitti, Withum Partner and writer for Forbes.com.

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My wife spends an unhealthy amount of time worrying about me. Whether it’s backcountry skiing in the spring or mountain biking all summer and fall, she always fears the worst whenever I’m not home or in the office, and shockingly, the robust life insurance policy I picked up after my brain aneurysm does little to quell her concerns.

Her only respite from worry comes during the heart of the winter, when the demands of tax season force me to confine my outdoor activity to the convenience and relative safety of the patrolled ski resorts.

Little did my wife know, however, that all her worry is misplaced. It’s tax season — and not Mother Nature — that hovers over me like the Grim Reaper, poised to strike just as I let my guard down:

From Bloomberg:

Deaths from traffic accidents around April 15, traditionally the last day to file individual income taxes in the U.S., rose 6 percent on average on each of the last 30 years of tax filing days compared with a day during the week prior and a week later, according to research published in the Journal of the American Medical Association.

Even allowing Americans to file their taxes electronically hasn’t negated the crash trend, lead researcher Donald Redelmeier said. The findings suggest stress, lack of sleep, alcohol use and less tolerance to other drivers on tax deadline day may contribute to an increase in deaths on the road, Redelmeier said.

According to the study, from a statistical standpoint, mailing off your Form 1040 is just as dangerous an activity to engage in prior to hopping into your Civic as downing a fifth of vodka:[i]

“An increase of risk in this magnitude is about the same as what we observe on Super Bowl Sunday, a time notorious in the U.S. for drinking and driving,” said Redelmeier, a professor of medicine at the University of Toronto in Canada, in an April 6 telephone interview.

[i] Not really as dangerous. Do not attempt to disprove me by downing a fifth of vodka and driving.

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