Saturday, April 15, 2017

TAXES: Share of income

I know this is a First World gripe, but why are "flow-through entities" allowed to send out their K-1 forms, which you need in order to fill out your tax return, AFTER the April 15 tax deadline? The deadline for every tax form and statement from banks, employers, and so forth is Jan. 30; why not K-1s?
Every year I get all my tax paperwork together early, and then I wait and wait for the stupid K-1s to show up in the mailbox. As of this writing, on April 15, I have not received a single one. 
The only completely safe option is to apply for an extension to file your tax return. Or, of course, to ditch the investment completely.


  1. Today's WSJ has an opinion piece by someone who should know (the IRS taxpayer advocate) who says flow-through entities, S corps are subject to the worst, most confusing rules in the tax code, and need urgent relief.

    BT sends her sincere condolences on the loss of your patriarch; he sounded in his obituary like a lovely guy, and your readers will miss his half of the senior Tally-Hos. Please also let your mother know readers are thinking of her.

  2. BT: Thank you. You have no idea how much your kindness means to my family and me. Dad was a wonderful man, and I'm only starting to realize the many ways I will miss him.