Well, here it is – the first full week of April. It’s definitely well within that period of time that tax accountants call “busy season.” There are no exceptions in my household, either.
This article will just be a short reminder that this year’s federal income tax deadline for US taxpayers is April 18, 2011.
As I write this Sunday night (April 3), I ponder its being two weeks away. I’m sure there are others among you, dear readers, who are pondering it as well.
MORE EXTENSION FILERS THIS YEAR?
It does seem as though there are a few more “extension filers” this year. Those are taxpayers who just don’t quite have all the information and calculations complete, ane need additional time for filing their returns. For tax accountant, filing extensions only puts off the inevitable. The “busy season” can lengthen or simply reappear later in the year.
For those US taxpayer who are outside of the USA and need a little extra time, there is a small benefit. Overseas US taxpayers can obtain an additional 2 month extension of time to file their return AND PAY their taxes. How’s that, Paul? you may be asking.
Normally, for US taxpayers residing in the USA, taxes are due on the original filing date – most often, April 15. A taxpayer can obtain additional time to FILE his/her tax return by requesting an extensions of time to file a tax return. With that extension, however, the US taxpayer must include a payment of taxes that are estimated to be due.
For US taxpayers residing overseas, there is an extension of time to FILE and to PAY. This extension is two months in duration. So, overseas taxpayers can pay their taxes two months later (June 15) without incurring a penalty. They will, however, incur interest due for the period of time after the original deadline until the payment date. (Uncle Sam seldom if ever has “freebies” for taxpayers.)
Now, if an overseas taxpayer needs more than two months extension of time to file, he/she may request additional time to file – putting them on equal footing with the USA resident counterparts, enjoying a final filing deadline in October.
I’m sure some of you dear readers are confused. I know my mind is currently spinning. My spin isn’t due to extensions, but those pesky extensions certainly add to the “centrifigul force” keeping the spin going.
FROM TAXES TO TAGAYTAY
I apologize that this is a short, tax-oriented note. I originally planned a short travelogue covering a trip taken last weekend to Tagaytay for a wedding. That sort of fell through.
The main transportation (bus) was taken overnight in both directions. Nothing to see in the dark (outside of Manila traffic), no pictures to snap with the camera; a real bust when trying to assemble a story. Any free time was spent trying to catch up on sleep.
Weather conditions were cloudy, hazy, foggy, etc. Even when nearing the “sights” I couldn’t really see them. I knew the lake and the volcano were out there somewhere in the mist/fog/haze/cloud/whatever. I just couldn’t see them.
The wedding was a splendid affair, held in a beautiful little church atop a mini-mountan. The reception afterward was splendid as well. Plenty of family, new and old acquaintances, etc. kept the atmosphere lively and enjoyable.
My only complaint – we didn’t have enough time to do anything!
A Thursday night bus trip (overnight) down to Manila, a morning of catching some sleep in Antipolo, a trip from Antipolo to Tagaytay, finding and enjoying a good seafood restaurant, finding lodgings for the night, and bedding down for the night made up the first day (Friday). Arising, preparing for and attending the wedding, attending the reception, trying (but failing) to see some sights, a trip back to Manila, an overnight bus trip back north, and getting back home on Sunday morning made up the second day.
It was a whirlwind tour to say the least. How I wish we had spent more time so that I could have presented a more indepth travelogue.
Oh well, there are always the taxes.