Time Running Out          
     
   You're thinking, yeh, only five shopping days until Christmas.

   But, no. There are only 13 days to get a grip on your income tax obligation for 2019. Will you receive a refund? Or will you owe the IRS, and do you have the funds to pay up in April?

   You might be surprised as we were to learn how many taxpayers had delinquent accounts one year ago at this time - 13 million. We read that the total estimated gap between taxes owed and taxes paid is between $500 billion and $600 billion. 

   The average tax debtor in the U.S. owes nearly $17,000. Worst among states is Vermont, up in Democratic New England, at close to $29.000. 

   We don't want to see any Views By the Sea readers in tax court. Okay? 

   Our changing economy, with "gig" income like ride-share drivers, freelancers and other contractors is contributing to the rise in delinquency. Other causes include divorce, failure to file a return and penalties related to back taxes. 

   Business taxes and self employment have a role, and about 3 percent of debtors just recently got out of prison.

   One can file an extension with the IRS, which gives you until October 15 to file, enough time to raise the money. The IRS allows some people who owe less than $50,000 to pay in installments (with interest and possible penalties). 

   Our merciful IRS might settle for less if you can prove that paying the full amount would cause financial hardship.

   By the way: There are only five shopping days until Christmas. Six if Sundays are no longer set aside for the Lord.  

        Jimmy