Another Tax Day Bites the Dust
Another Tax Day Bites the Dust
April 15 is almost done, however for many of us Tax Day does not really end until October 15.
Most of the CPAs who get this blog are in the process of finishing up tax returns or most likely filing a lot of extensions.
But for many of us the real tax day is not April 15, but rather October 15 or perhaps September 15 for those that primarily deal with business returns.
Tax Day was not always April 15. It was originally on March 1, 1913 but got pushed to March 15 in 1918. 37 years later it was changed to April 15 and that is our current deadline.
With the late filing of Form 1099s and Schedule K-1s, it would be nice if the IRS pushed it back to April 30 or even May 15, but many CPAs would rather keep it as is.
It has been five years since we actually filed on April 15. During the pandemic we filed on July 15 and May 17. The last two years we filed on April 18 due to weekends and special holidays.
I think the last time I filed by April 15 was in the 1980s. I have too many K-1s that I have to wait for (or prepare myself) and typically I file sometime in October each year.
Most CPAs will have a special dinner tonight to celebrate the end of tax season and many will take tomorrow off to go play golf and just unwind.
I wish everyone a happy end of Tax Day 2024!