In less than one week it'll be Tax Day here in the US - April 15, 2008. Each year the media features people lining up at the post office trying to get their return postmarked by the midnight deadline. Perhaps it is because I've been one of those proactive people all my life, but I don't get the tax procrastination thing. It's not like you don't know it is coming. Heck it is even the same date every year (or a day or two later if tax day falls on a weekend). There are no hidden surprises regarding what you need to do to file and when it is due. So what gives?

And if you are someone still procrastinating about your taxes, what can you do to get it done asap?

Apparently some cities are more prone to tax procrastination than others. Don't Mess With Taxes says "Texas Tops Tax Procrastination List" as she features the 2008 rankings from Intuit, maker of the popular tax software (as determined by the number of tax returns electronically filed online via the TurboTax Online service from April 14 through April 17, 2007). The top 10 cities (with their 2006 ranking in parenthesis) are:

1. Chicago, Ill. (#2)
2. New York, N.Y. (#5) -
3. Houston, Texas (#1)
4. Austin, Texas (#4)
5. San Francisco, Calif. (#5)
6. San Diego, Calif (#6)
7. Seattle, Wash. (#8)
8. Las Vegas, Nev. (#11)
9. San Antonio, Texas (#7)
10. Los Angeles, Calif. (#12)

Apparently there is a trend in Texas and California which holds true even as you read the rest of the list. Is there any reason for this trend? Who knows, but it goes to show that tax procrastination is widespread.

I still can't wrap my head around why people wait, though. Is it because they love the thrill of the chase? I remember the last boss I had was always waiting till the last minute to do anything and it drove me nuts. She just operated that way. To her credit she rarely got stuck redoing things over and over as requirements changed which I always fell prey to because I was so proactive. I'd be done and then everyone would change their mind or cancel the project. Not sure which is worse, but in this case, I don't see the need to file taxes going away anytime soon. You just can't wish it away.

If you can't manage to get the paperwork together, it is alright to file an extension as Alison at Queercents shares.

If you’d prefer to eliminate the stress of the impending date, consider filing a 6-month automatic extension. Use Form 4868 to request the extension. This is one of the simplest IRS forms, as is less than half a page in length.

Just remember this important fact:

Please be aware that an extension of time to file is NOT an extension of time to pay. If you owe taxes they will begin to accrue huge penalties and interest April 16th!

This year you have even more to lose with procrastination, though. The highly controversial Economic Stimulus Act will mean an additional $600-$1200 in the pockets of many people. However the more you procrastinate, the more you will wait. Like Don't Mess With Taxes says:

Putting off filing is not a good idea this year, since you won't get your stimulus payment (aka rebate) until your return is processed.

If you find yourself with less than a week to file, don't panic. Freaking out and rushing is a surefire way to make mistakes and miss tax savings opportunities; the first which can lead to a dreaded audit and the second which will make you mad and poorer. I found this great round up of "Tax Tips on the Web" which has a link to just about every tax resource you could need. So take a deep breath & get to it!

Paula Gregorowicz, owner of The Paula G. Company, works with women who are ready to create their lives and businesses the way the want rather than how they were told they "should". Get the free 12 part eCourse "How to Be Comfortable in Your Own Skin" http://www.coaching4lesbians.com and start taking charge of your own success.

To get the latest word on personal finances from an LGBT perspective and Paula's practical coach approach to the topic check out Queercents http://www.queercents.com.

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