HAPPY ST. PATRICK'S DAY!

La Fheile Padraig for those of you who are bi-lingual

How are you celebrating today? Irish coffees? Irish food? Wearing green? Good for you!

We are celebrating by working on your tax returns due in 29 days...So top of the tax to ya!

HHS/HHR filing reminder

You must complete the filing requirements by 3/31/2022! Please see our Eblast from 1/12/22 or visit our website for the instructional video and excel worksheet we provided. The feedback from our clients who have used the worksheet and watched the video is that YOU CAN DO THIS!

A couple thoughts. Yes, you can give the money back if you do not want to file. And yes, the money is taxable. However, here is the example we would like to give you to help you make up your mind on whether to file or return the money.

HHS money received = $60,000. Tax on $60,000 is (using a 40% tax rate) $24,000. The time it takes you to watch the video, fill out the worksheet and file is 2.5 hours. Your rate per hour for figuring this all out is $14,400. Not a bad rate per hour to be “paid.”

So please don’t panic, just go ahead and file! We believe in you just like Ted Lasso does.

Have you sent us your personal return information?

If not, we will be extending your returns. Fear not, we will tell you (best guess), if you owe tax on April 15.

Even if we are extending, please send your information as soon as you can work up the courage to put it all together. We will be working on them after April 15 (actually after May 1^st, let’s be truthful). Please don’t make us beg for it. 😊

If you need us (medical emergency or life issues), please get in touch with us. However, we truly appreciate you letting us work on tax returns for the remainder of tax season. We know it is difficult for you not to email or call because we are your very favorite people to talk to, but we need to be servants to the government for another month! Thank you for understanding.

Coleman, Ureda, Alford & Kaucher, PA