Wednesday, April 15, 2015

Tax Day

Is there such a thing as Happy Tax Day?

My taxes are done and I'm happy about that. I'm never happy about taxes, but I'm always happy they're done. I know however that a lot of you are scrambling today to finish up those taxes. How do I know? Because I can guarantee we're going to receive a number of panicked and angry phone calls from people who didn't receive a 1099. You know, the tax paperwork we sent out mid-January.

Today is a good day to remind all authors to update your agent with any name change, change of address or other change you might have made with the IRS well before April 15. Even if you haven't heard from your agent in years, if you still have a book that's actively selling, you need to keep her updated with your address. You never know when a royalty check might one in or a contract amendment might show up.

I hope your tax day is fruitful or, at the very least, not painful.

--jhf




6 comments:

Elissa M said...

I can't tell you how glad I am that our taxes are finis. Believe me, I contact people when I haven't received the required forms--but I do it around mid-March, while there's still plenty of time to get the forms and file the return.

The worst part about filing an extension is you still have to pay the taxes by April 15, and you're subject to a fine and interest if you guess wrong and underpay. Ugh. No, thank you.

Sally MacKenzie said...

Tax day is also oldest son's birthday. We had our taxes done and in before Baby Boy arrived, but there was another couple at the hospital the husband of which was filing out a request for extension while his wife labored.

AJ Blythe said...

In Australia our financial year finishes on June 30, so I don't even need to start thinking about procrastinating about paperwork for another month yet :)

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Brittany Walters said...

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Wanda Hanson said...

Doing taxes is one stressful activity, though one couldn’t just ignore it. But it could be a relief once you know that you’ve done them for the year, and there are no issues or inconsistencies that popped up. Anyway, those are some good reminders about the changes with regard to taxation and the IRS. And it is true that it is very important to keep your profile updated at all times. Thanks for sharing this with us! All the best!



Wanda Hanson @ Tax Tiger