The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Discussions on raising age for free subway rides gain momentum

  • 3

    US reaffirms nuclear security assurances to South Korea

  • 5

    Opposition party takes to streets to protest prosecution probes into leader

  • 7

    Will KT, POSCO replace CEOs as Shinhan, Woori did?

  • 9

    Korea as sublime, strange, and familiar

  • 11

    TXT, Le Sserafim top Oricon album and singles chart

  • 13

    Chinese spy balloon 'transits' Latin America after first craft flies over US

  • 15

    Blinken scraps rare China trip over alleged spy balloon

  • 17

    Russia's Medvedev says more US weapons supplies mean 'all of Ukraine will burn'

  • 19

    2-year work experience prerequisite lifted for foreign shipyard welders

  • 2

    Families of Itaewon crowd stampede victims clash with police over installation of memorial altar

  • 4

    China expresses 'strong dissatisfaction' over US shooting down balloon

  • 6

    William Franklin Sands' diplomatic and undiplomatic views of late Joseon

  • 8

    Korean American Rep. Young Kim named chair of House Indo-Pacific subcommittee

  • 10

    US remains committed to using full range of capabilities to defend S. Korea: Blinken

  • 12

    Wang Yi urges US to 'avoid misjudgment' over balloon controversy

  • 14

    US shoots down suspected Chinese spy balloon with a single missile

  • 16

    Musk didn't defraud investors with 2018 Tesla tweets

  • 18

    Families of Itaewon victims on collision course with Seoul City

  • 20

    INTERVIEWTati Gabrielle, actress of Korean, African-American descent, feels proud of her heritage

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
Mon, February 6, 2023 | 02:27
Guest Column
Extension of tax grief
Posted : 2022-09-22 14:35
Updated : 2022-09-22 14:35
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link

By Tom Purcell

I used to love the first weekend of autumn. Now I loathe it.

Maybe I better explain.

I used to wait until the nicest week in spring to organize my taxes, but now I wait until the nicest week in autumn.

Autumn officially begins this Friday, Sept. 23, which is when I will begin the agonizing process of digging through my big box of income statements and expense receipts from 2021.

I organized the mess of paper somewhat in the spring, so that my CPA could file an extension.

But the only thing that did was extend the ordeal of sorting through the box to find every tax deduction that is due me.

I still had to pay any 2021 income taxes I owed by April 18 or face penalties "that can reach up to 25 percent of the total unpaid taxes, with some exceptions," says the Wall Street Journal.

Now my tax return for 2021 must be filed by Oct. 17 or steep penalties could kick in.

The Journal says 19 million taxpayers asked the IRS for more time to file this year ― a record number.

"A variety of factors is to blame beyond just procrastination, tax preparers say: shifting due dates, COVID-related tax law changes, late forms, the IRS backlog and taxpayer burnout," reports the Journal.

Taxpayer burnout? I've been suffering that since I filed my first adult return.

Now that I have more than one source of income ― writer, communications work, rental properties, real estate sales, etc. ― I have to provide detailed reports to my CPA on what revenue comes in and what goes out for expenses.

The resulting return is many pages long. There would be fewer felons if they knew their punishment would be to read it.

I wonder whatever happened to all those brave reform ideas to make income taxes fairer or flatter or so simple to file you could complete them in minutes with a single piece of paper and an unsharpened pencil.

2017 was the last time the IRS changed its laws to allegedly help businesses with things like deductions, depreciation, expensing and tax credits.

You might be able to understand the benefits of the Tax Cuts and Jobs Act ― if you're an accountant ― but not me.

To make filing my taxes easier for me my CPA set up a Quicken account so I can record in real time every check that comes in and every expense that goes out.

But I don't use that convenient tool as I should.

That's why late this Friday afternoon I'll get out my big box of receipts, organize them into expense folders, load the details into the Quicken app and then pray I don't owe more tax than I already paid in April.

The weather will be beautiful.

Autumn will have arrived in all its glory. Friends will be sitting around bonfires and sipping hot apple cider during the crisp gorgeous evenings.

But I cannot join them. I cannot talk on the phone, watch television or even listen to lively music.

All I'll be able to do is focus intensely on my receipts, so my CPA can file my tax return by Oct. 17.

So enjoy your hot toddies, my friends who didn't file an extension this year.

But if you don't hear from me by next Wednesday, please make sure I wasn't crushed to death under my big box of receipts.


Tom Purcell (Tom@TomPurcell.com), creator of the infotainment site ThurbersTail.com, is a Pittsburgh Tribune-Review humor columnist. His article was distributed by Cagle Cartoons newspaper syndicate.



 
Top 10 Stories
1Discussions on raising age for free subway rides gain momentum Discussions on raising age for free subway rides gain momentum
2US reaffirms nuclear security assurances to South KoreaUS reaffirms nuclear security assurances to South Korea
3William Franklin Sands' diplomatic and undiplomatic views of late Joseon William Franklin Sands' diplomatic and undiplomatic views of late Joseon
4Will KT, POSCO replace CEOs as Shinhan, Woori did? Will KT, POSCO replace CEOs as Shinhan, Woori did?
5Families of Itaewon victims on collision course with Seoul CityFamilies of Itaewon victims on collision course with Seoul City
62-year work experience prerequisite lifted for foreign shipyard welders2-year work experience prerequisite lifted for foreign shipyard welders
7President Yoon at odds with politician who helped him win election President Yoon at odds with politician who helped him win election
8LG publishes Korea's first group-level net zero report LG publishes Korea's first group-level net zero report
99 fishermen, including 2 Vietnamese, missing in boat incident 9 fishermen, including 2 Vietnamese, missing in boat incident
10Conflict reignites over relocation of POSCO Holdings to Pohang Conflict reignites over relocation of POSCO Holdings to Pohang
Top 5 Entertainment News
1Kim Da-mi, Jeon So-nee team up for coming-of-age film 'Soulmate'Kim Da-mi, Jeon So-nee team up for coming-of-age film 'Soulmate'
2Park Hyung-sik to play crown prince in tvN series 'Our Blooming Youth'Park Hyung-sik to play crown prince in tvN series 'Our Blooming Youth'
3'Ant-Man 3' promises bigger, better action with same family dynamic: cast 'Ant-Man 3' promises bigger, better action with same family dynamic: cast
4[INTERVIEW] Disney+ 'Big Bet' director on portraying greed and desire INTERVIEWDisney+ 'Big Bet' director on portraying greed and desire
5TXT, Le Sserafim top Oricon album and singles chart TXT, Le Sserafim top Oricon album and singles chart
DARKROOM
  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

  • World Cup 2022 France vs Morocco

    World Cup 2022 France vs Morocco

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group