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Are You Ready to File Your 2021 Tax Return? Filing Deadline is Monday, April 18th
FOR IMMEDIATE RELEASE: Wednesday, April 13, 2022
CONTACT: Kristofer Eisenla, LUNA+EISENLA media
kristofer@lunaeisenlamedia.com | 202-670-5747 (mobile)
If You Still Need More Time, Apply for an Extension Now
DALLAS, TX – With 2021 tax filing deadline for most Americans on Monday, April 18th, Keith Hall, the president and CEO of the National Association for the Self-Employed (NASE), the nation's leading advocate and resource for the self-employed and micro-businesses, today asked: “Are you ready to file your 2021 tax return? If the answer is yes – great! But if you need more time, file an extension now to avoid penalties.”
“With expected delays with the Internal Revenue Servicein processing 2021 tax returns, ensure you file your returns on time Monday, April 18th,” said Keith Hall, president and CEO of the National Association for the Self-Employed (NASE). “Finalize your 2021 tax returns this weekend to avoid any further delays to any expected refunds. There have been updates to key policies with the tax code that can be a significant benefit to your situation.
“Don’t leave anything on the table – ensure you are getting every possible deduction available to you. Don’t forget about hidden or overlooked deductions by making sure you are not missing any tax advantages that apply to your specific situation and could make a big difference. Examples of these deductions, include the mileage reimbursement, retirement contributions and the home office deduction.”
NASE Tax Preparation Advice
Read CEO Keith Hall’s Open Letter to the Small Business Community
“Movement to Self-Employment
“We are living in truly the age of the entrepreneur. Americans are taking greater control over their employment destinies. Those in traditional employment realized the benefits of self-employment during the pandemic. From working from home (or anywhere) to having more time with the family and flexible working hours (to name just a few), there has been a national awakening to the benefits those in the self-employment demographic have enjoyed for decades. Some of the movement to self-employment was involuntary due to the pandemic’s impact on the traditional workforce. However, many individuals made the conscious choice to take the leap out on their own.
“Self-Employment Responsibilities – Taxes
“Along with the benefits of self-employment, new entrepreneurs also need to understand the responsibilities — including paying quarterly taxes they may not be used to — are important to consider. If you are one of these newly formed small businesses, it is imperative you review these new tax and regulatory requirements to prevent penalties later down the road. From paying quarterly taxes and complying with local and state filing laws, ensure you are in compliance.
“The Internal Revenue Service (IRS) has already warned the 2021 tax return filing season will come with delays to processing returns. Now is the time to prepare and compile your documents, and review key, updated tax policies, so there are no further delays in processing or receiving any expected refunds.”
Click here to read the entire piece in Home Business Magazine with tax tips, updated key policies, and resources
“If you still cannot make the deadline and need more time, apply for an extension so you are not penalized for being late. Remember, you are not alone and there are resources out there for help, including NASE.org, IRS.gov and SBA.gov, where information and assistance are readily available,” Hall concluded.
To speak with Keith Hall, a Certified Public Accountant, about this year’s tax season, please contact Kristofer Eisenla at kristofer@lunaeisenlamedia.com
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The National Association for the Self-Employed (NASE) is the nation's leading advocate and resource for the self-employed and micro-businesses, offering a broad range of benefits to help entrepreneurs succeed and to drive the continued growth of this vital segment of the American economy.
The NASE NextBizThinghelps identify and connect our nation’s smallest businesses. Need small business help? Check out NASE’s Ask the Experts for advice or the NASE Minute for small business support.
The NASE is a 501(c) (6) nonprofit organization and provides big-business advantages to hundreds of thousands of micro-businesses across the United States. For more information, visit the association's website at NASE.org