Jan 20 2014, 3:59am CST | by Sumayah Aamir
The taxman cometh! The income tax returns are ready for processing. And with the due date approaching faster than a speeding bullet, everyone is filling out their tax forms in an attempt to get it over and done with. However, with the last date being April 15th, the mismatch between the various procedures that have to be followed in between the period has caused some unintended friction.
The feds and the state department have postponed the acceptance of forms from January 21st to January 31st, 2014. As for the IRS, it has laid the responsibility for this delay at the feet of the Obama Administration’s governmental shutdown.
In other words, most of the operational schemes for tax returns ought to have been handled in the fall season. But that never happened. Now, whether the filing will be carried out electronically or through paperwork, Monday is the date that has been set for the hassle.
Corporations, joint enterprises and charities will all be liable to pay their taxes. These taxes ultimately help end the poverty that is so conspicuous in certain inner cities of the United States. Whether they use Form 1040 or 1041, the date when the filing ensues is one and the same.
But the fact that the tax forms have not reached every individual is a source of chagrin. Therefore, E-filing has been chosen as a method of speeding up the process. Tax filing via cyberspace is not only cheaper than paperwork it is a highly efficacious method of getting the job done.
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