We just passed another April 14th, and some Bay Area locals may be breathing a sigh of relief. Studies show that around 46% of people file their own tax returns. This group can spend up to 13 hours preparing a return, and that doesn’t include time to review new tax codes or changes. The message to these filers is clear: don’t miss the tax deadline.
Although it appears the government is looking to simplify individual tax return filings, regulatory changes and new bills can impact what is expected. So, unless an individual is in the 1040EZ category, there are plenty of options for missteps when filing taxes. If you missed the deadline because your still struggling with the paperwork, make sure to get that automatic extension in asap! The government gives you only so many chances to turn in a late filing.
Unfortunately, you might be one of many Americans who freeze during tax season. Some can call it procrastination, but it can involve much more than that. Psychology Today explains the emotional issue surrounding annual tax filings. People can feel confused or conflicted, wondering where to begin. They might not feel confident about managing the task and worry that a tax mistake will get them in more trouble, so they do nothing. Our CPA team speaks to San Francisco residents who feel frozen just like you. If you’ve missed the tax deadline and the anxiety to fix the problem is rising, hope is not lost.
Allow Your Tax Worries to Melt Away
As a San Francisco CPA team that manages individual tax filings, we’ve listened to our clients’ reasons for why they felt they couldn’t handle their taxes on their own. And they are not alone, 37% of Americans use a tax professional to handle their filings. The cost of a tax expert is minimal compared to the value. A CPA can review an individual’s financial situation and get to work finding the tax breaks and credits they deserve. They are there to make sure their clients are in compliance with the IRS and get those filings before a deadline. Working with a tax advisor can also alleviate the stress that’s been eating at the person’s mental health.
Our CPA team is ready to help San Francisco residents who passed the April 15th deadline and get those returns in. Then we can come up with a plan to ensure they don’t miss the tax deadline next year!
