Get a jump start on your taxes! (And depression!)

imageFor the last several years I’ve promised myself I would do my taxes early. And for the last several years I have found myself Tokyo-drifting my way to the post office at 11:59 p.m. April 14. This year, I was determined to get an early start. After clearing off the kitchen table and finding an outlet for the calculator, I sat down to do my taxes. As always, I made sure to have all the necessary documentation and forms, like W4s, tax forms, bank statements, insurance reports, tax schedules and, most importantly, a box of Kleenex.

As I sat staring at this year’s tax booklet, I noticed a special section of “Tax Terms,” which is an alphabetical listing of terms one may encounter during the tax preparation process. Each term is followed by a brief description meant to enlighten the truth-seeking taxpayer through “real-life” examples. For instance, the IRS uses “Jane” and “John” to illustrate the term “Ability to Pay.” In this scenario, Jane is filthy rich, with homes on both coasts that she visits by way of her own Lear jet.

By comparison, John earns what the IRS calls a “more modest salary,” which affords him a flashlight and a camper shell to live in.  Continue reading