March Madness

I love the NCAA men's basketball tournament. I just wish it didn't fall right in the heart of opportunity season. The NCAA has done a much better job at promoting itself than have we CPAs. If someone says 'March Madness' you think of the tournament, the excitement and the possible "Cinderellas". If someone says "tax season" you think of your poor, overworked tax person slaving away day and night. What's wrong with that picture?  How about that CPA who stayed up all night and then found that big loophole? Where was some announcer going "Waaay to go baby"!! Where were the high fives and the chest bumps? Maybe it's because our deadline is in April and not March. Come look at our office - there's plenty of March Madness. We need to sell this stuff. Corporate tax returns were due March 15. Don't tell me that doesn't generate a lot of buzz around the water cooler??

Seriously, though, now that the corporate deadline has passed, the focus is all on the individual tax filing season.  Except for those invested in many partnerships (especially hedge funds), most people have all the outside reporting they need to prepare their returns. So why haven't I heard from so many clients?  People hate to think about their taxes. They procrastinate and find a myriad of other things to do until one day, like the groundhog coming out to look at his shadow, they know it's time. People have this kind of biological tax clock. They send me their information the same time every year and I'll bet they don't even know it.

OKAY PEOPLE, WAKE UP!!! How can you all possibly think that I can get all the work done if you all wait until the last minute? Please don't do this to your tax preparer.  Put your tax information together and get it done now! I know we come through for you every year, but it doesn't get any easier. One upside is that the NCAA hasn't yet trademarked "April Madness"! Hey, now there's a thought....