Tax deadline is quickly becoming a reality
CITYWIDE There’s a reason why April has been dubbed National Stress Relief Month.
It’s the time of year when millions of Americans are pulling their hair out, reaching for that extra cup of coffee and agonizing over a pile of receipts as the deadline to file their tax returns — April 17 — creeps closer and closer.
It’s crunch time at tax preparation firms across the country, as last-minute clients come running through the door, eager to push their tax duties onto a paid professional who will hopefully find deductions to save their customers some money.
That’s usually the case at the H&R Block office on the 2900 block of Wilshire Boulevard, whose busiest time of the year is the week before taxes are due, according to Eileen Brown, the district manager for the accounting giant.
On Tuesday afternoon, the small office was surprisingly quiet as a few clients sat huddled around their financial consultants. It was the calm before the storm.
“Millions of people wait until it’s too late,” Brown said. Waiting until the last minute can mean that taxpayers miss out on different ways they could save money, methods that are often overlooked such as deductions for medical expenses, which can include writing off gas mileage, Brown said.
The H&R Blocks around the country provide assistance on 17 million tax returns every year.
Tax season has been known to be one of the most stressful times of the year because it reminds many people that a considerable portion of their income goes directly to the government, and for many people who have been affected by the recent sluggish economy, that can be very painful, said Dr. Janeen Locker, a therapist in Downtown Santa Monica specializing in stress management.
The time it takes to fill out tax return forms doesn’t help the stress either.
“Taking the time to either do your own taxes or to travel to an accountant and make it to an appointment can be stressful for people,” Locker said.“Especially for those working full-time.”
A recent survey by H&R Block, released on March 29, showed that most people wait until March and April to file their returns. More than 1,000 taxpayers between the ages of 22 and 64 were interviewed for the survey. Approximately one in five respondents said they had not filed early because they were compiling their paper-work, while another 10 percent said they were waiting for needed paperwork in order to file. About 42 percent of respondents incorrectly identified April 15 as the deadline to file taxes, even though the date falls on a Sunday this year.
“We’ve been prepared for over a year,” Brown said of the deadline. “Our goal is to help [last minute clients] get the biggest refund and lowest tax [liability] possible.”
Things have been a bit quieter at Hargrave & Hargrave in Downtown Santa Monica, where husband and wife team Greg and Terry Hargrave have prepared about 350 income tax returns this year.
“Most of them come before March 15 and give us time to do a good job on their tax return,” Greg Hargrave said.
The turnaround time at Hargrave & Hargrave is about two weeks.
The scene gets hectic around April 15 at Hargrave & Hargrave when the “last-minute”clients come through the door.
Appointments for free tax services for low-income residents and senior citizens offered at Santa Monica’s WISE Senior Services through the AARP Tax Aid have been booked solid since it started on Feb. 1. Four trained volunteers offer assistance three days a week from February until the deadline.
Originally published in the Santa Monica Daily Press print edition on April 4, 2007. Read the original PDF.