Mind of Murph
Did you know that more than 11 million taxpayers didn't file a tax return last April? And most of them will in fact mail returns tomorrow October 15 before their local Post Office closes. Even if they didn't need the full 6-month extension, they are taking it!
Some taxpayers need the additional time because they are awaiting tax returns from a corporation or other business which extended their return in March. Of course we know that the IRS tells taxpayers that the extension they received was only an extension to file the return, not pay the tax that was due. So even if the taxpayer needed time to file an accurate return, their tax has long since been due, so why would anyone wait otherwise?
Well the answer is almost always, ‘procrastination’, "people hate doing their taxes, they will use almost any excuse not to do them, or even if they use a paid preparer, they hate the idea of ‘having to file’." These are the individuals who are better know as “Procrastitaxnators”. Many people think that if they pay a reasonable amount by April 15, then they won’t be liable on what they really owe, but of course the “IRS-man” doesn’t think the same way…they are due ‘their all’.
Now let’s take the ultimate of procrastitaxnators, the person who simply fails to, intentionally or not, submit their return by even the late return date of October 15. Well if they miss the deadline and didn't pay their full tax bill when they got an extension, then the IRS will be adding penalties and interest to your bill, as I said, ‘Render unto Caesar that which is….’
Of course, if a procrastinator doesn't owe, then they really have few worries. Late-filing charges are based on your due tax and so no tax debt, means no added (P&I) charges. Still the same, everyone needs to get the forms to Uncle Sam, especially if you might be getting a refund; “what the heck are you waiting for?” You can't get ‘your just due’ until the IRS gets your 1040.
So all you procrastinators, get with it, tax due, no tax due, refund expected, October 15 is your day to ‘give in’ and file that return; the government may not be able to agree on ‘funding government services’ or ‘increasing the debt ceiling’, but they can all agree on one thing…."YOUR TAX RETURN IS DUE, and that will most likely be 'me' that is standing in front of you at the Post Office counter to insure my return is postmarked October 15."