S Corp And Partnership Returns Were Extended

These returns are due on March 15th, this year. As such, if you are a regular bookkeeping and tax client of ours, your business return was extended today. I mailed them in this morning. A copy of that extension will be forwarded to you.

The extension does nothing but extend the due date of the paper return by six months to September 15, 2022. It doesn’t extend the due date for any payment that may be due.

If you would like to make a tax deposit with your extension, please contact our offices today. We’d like to avoid as many failure-to-pay penalties as possible.

If you are not a regular bookkeeping and accounting client of ours and would like us to extend your return, please contact us today. We’d love to help.

Let me leave you with this.

In thinking about the war in Ukraine, I started thinking about our own veterans, and came across the following.

– 27% of our Afghanistan and Iraq War Veterans are food insecure. Overall 6% – 24% of our heroes, depending on the study you read, have this problem. Part of the problem is how the food stamp system is designed. Service members get what’s called a basic allowance for housing. This allowance, that must go towards housing, is considered income for determining food stamp program eligibility, and makes most veterans ineligible.

– According to HUD, 40,000 of our Vets lived on the streets in 2021. Fortunately, the VA awarded $418M in grants to help curb the problem last year. More grants are on the way.

– Last year, the VA reportedly denied 70% of all medical claims related to burn pits. These claims are mostly for respiratory ailments. They occur because the military primarily disposes of its waste in war zones by utilizing large fires.

– According to a study by Pew Research, one-third of all veterans currently struggle to pay their bills and things are getting worse. FINRA discovered that between 2015 and 2018 the percentage of vets with poor credit habits had risen by 11%.

– But food, housing, health, and financial problems aren’t the end of the story. According to a study by the National Bureau of Economic Research, veterans of our post 9/11 wars have cost America $26.4B through committing violent crimes. After wearing the uniform and fighting for our country, many turned to a life of crime.

Wars have always been a process where the Unwilling, do the Unthinkable, for the Ungrateful. Our military has a way of taking our best and brightest, using them up, and spitting them out.

As a country, we need to do more to support our heroes.

We’re all going to get through this. Let’s get through it together.

Accounting Solutions Ltd. stands ready to complete our mission and purpose of protecting you, your family, and your business. Whether you need Employee Retention Credits, PPP Loan Forgiveness, Payroll Services, or Accounting and Tax Work, you have but to ask. I’m here and I remain,

Sincerely yours,

Chris Amundson
Accounting Solutions Ltd.


Note that the only professional services provided by Accounting Solutions Ltd. are those specified in a written communication from our office detailing the scope of services to be rendered and the terms and conditions applicable to the engagement.