Should You Prepare Your Client’s Amended Return for ERC?
Larry Gray, CPA helps you, the tax professional, understand what questions you need to ask your clients to make sure they qualify for the Employee Retention Tax Credit (ERTC or ERC).
With tomorrow’s deadline approaching for Tax Day 2023, and just 48 hours between you and a vacation to the tropics (or at least a vacation from the 60+ hour workweeks), pat yourselves on the back. The end is in sight! Before taking some much needed and well-deserved time off, this post will provide some fun facts about Tax Day, and hopefully provide a small boost to get you over the finish line.
Three Extra Days To Prepare Tax Returns (But Who’s Counting)
Nobody would fault you for counting down the days until the end of tax season, which leads to the observation that tax day does not fall on the normally-perceived April 15 deadline, but rather on April 18th for this tax year. Why is that? The deadline has been pushed to the 18 for observance of the Washington D.C. holiday, Emancipation Day, which celebrates the anniversary of the end of slavery in Washington D.C. in 1862.
History of Tax Day
2023 will mark the seventh time that Tax Day has fallen on April 18 in the United States. The first April 18 tax day occurred in 2005 (for filing year 2004). Before that time, the latest date that Tax Day would fall on was April 17, which first occurred in 1961. The next April 18 deadline (barring any legislative changes or other unforeseen circumstances) is scheduled to be in 2028.
Other Significant Events That Fall On Tax Day
While April 18 Tax Days mark the end of long tax seasons for practitioners, other events happened on those days too. Here are some of interest:
- 4/18/2005 – NASA reported the B-15A iceberg (largest recorded iceberg by area at the time) collided with the Drygalski Ice Tongue in Antarctica around a week prior
- 4/18/2016 – The 120th Boston Marathon was held
- 4/18/2017 – The Egyptian Ministry of Antiquities announced the discovery of a 3,500 year-old tomb near the Valley of the Kings, which included mummies, sarcophagi, and statues
- 4/18/2022 – The official teaser trailer for the beloved Marvel cinematic masterpiece, Thor: Love and Thunder, was released
Tomorrow, while icebergs may or may not be colliding, a marathon of sorts will be coming to an end. You’ve worked hard, and it’s only fair to celebrate hard, partying like pharaohs and hollering roars of triumph that would rival those of Gods of Thunder. Happy Tax Day!
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University of Illinois Tax School is not responsible for any errors or omissions, or for the results obtained from the use of this information. All information in this site is provided “as is”, with no guarantee of completeness, accuracy, timeliness or of the results obtained from the use of this information. This blog and the information contained herein does not constitute tax client advice.
