By now you’re either sitting pretty or you’ve become a…tax fugitive! If you’re living on the dark side now, you should know the exact penalties that are accruing against you: 

Source: IRS website

It’s time to get it done and start retracing your missteps. In my experience, it’s always more than one thing that leads to late taxes. When I was married, I remember going from impatient to receive my 1099s and K-1s in January — to completely crazed and trying to get it together before midnight on April 15. Those days are behind me, but I learned a lot on the journey to financial literacy.

One thing is to create systems that make keeping up simple and easy. At JHA, we’re happy to work with a garbage bag filled with receipts, because that’s a system! The most important thing is to create a system that you will stick to — and easily start up again after “falling off the wagon.” Don’t plan on being your most organized self every day: Engineer for your worst day.

Even if you don’t have the bandwidth to do those things for yourself, help is available. At JHA we love making sure our clients get their taxes in on time. Contact us to learn more.