Dreading taxes? It’s World Panic Day 2023. 

 

This is an informal holiday celebrated each year on March 9.

Panic is a very disagreeable feeling that can lead to sadness, often causing difficult and upsetting consequences. Try to stay calm and take deep breaths to prevent panic. Think yoga breathes.

However, it is tough for some people to refrain from panicking, and stifled emotions may result in a freakout or panic attack. Therefore, chilling out is recommended.

Panic Day is a dedicated day set aside when we are free to enjoy the freakout and bask in the knowledge that telling others we can’t handle it anymore won’t be frowned upon. Wahoo!!

Panic and taxes go hand in hand for many folks during this time of year—tax anxiety.

What’s your biggest Tax Day fear? Are you dreading taxes?

Here are the top six circumstances that can freakout most people that dread taxes:

1. Forosophobia – formerly known as tax anxiety, is the fear of tax season. For some, it is genuine and now considered an official phobia.
2. Receiving an unexpected notice in your mailbox from the IRS and not opening it.
3. Why not filing an income tax return is a bad idea.
4. Committing tax fraud:

• •  Intentionally failing to file individual income tax returns.
  • A self-employed individual failing to report all income received.
  • Filing an individual income tax return and deliberately understating the income earned during the tax year.

5. Taxpayers who don’t have the money to pay their taxes and don’t know what to do may not file the current year’s tax return.
6. Preparing your tax return and later discovering you made several mistakes after you get a letter from the IRS. These are some of the errors that can cost you money and a boatload of stress.

• • Missing or Inaccurate Social Security Numbers
  • Misspelled or Mismatched Names
  • Incorrect Bank Account Numbers
  • Errors with Tax Credits or Deductions
  • Filing Under the Correct Status
  • Incorrect filing status
  • Missing the tax filing deadline
  • And giving up. If you’ve made a mistake on your return, fix it quickly. Never ignore the IRS.

Ali freaks out when…

The above content explains what may cause the average taxpayer’s stress level to go off the charts. So, it’s only fair for me to share what freaks me out the most.

• • Small spaces – like a closed MRI or CT scan machine. I am scheduled to take the test in two weeks, and the panic has already begun. Doc prescribed one valium to calm me down.
  • Heights – when Jeff takes me to a hotel with a glass-enclosed elevator, my face is turned into his armpit until we reach the correct floor.
  • Snakes – any kind!!!
  • Spiders – panic city, here I come.
  • Lighting a barbeque with a lighter, regardless of how long it is. Thankfully our current unit lights with a press of a button.

I think I will stop here before I embarrass myself further.

There are only 40 days until tax returns are due. So, if you are delinquent in your tax filings or need 2022 prepared, contact us today.

Don’t trust just anyone with your taxes. Let a highly skilled professional Enrolled Agent like Jeffrey Schneider, EA, CTRS, ACT-E, show you how to manage your tax situation to get the best results.

He knows all the ins and outs of the IRS playbook and the current tax laws to help you take all the possible deductions available to you.

Contact us today at https://thetaxreliefco.com/contact/, or book your appointment online to see how we can help you; https://go.oncehub.com/TheTaxReliefCompany.

Ali “counting down the days” Schneider
Director of Business Development

Frustration Anxiety and Tax

Tax Humor

An accountant is someone who solves a problem you didn’t know you had in a way you don’t understand.