Practical Steps for Rising Above National Panic Week

Keep these four things in mind when you're filing your taxes. (Pixabay)

Tax-filing time is upon us once again.

Millions of Americans are suddenly realizing that the dreaded April 15 (April 18 this year) deadline is next week. It's National Panic Week.

The panic can be particularly acute for people struggling with debt burdens and unexpected tax liabilities. So let's review some tax-wise ideas which we hope can help relieve the panic:

1. Don't forget to make sure you have taken all of your allowable deductions and, if eligible, the earned income credit. You may not actually owe any tax.  

2. If you cannot pay your taxes due on April 18, go ahead and file your return and pay later. If you do not file, you're charged up to 5 percent per month penalties plus interest. On the other hand, if you file owing tax, you pay interest but you can file Form 9465 to request an installment payment of your taxes due over as much as 72 months.

Get Spirit-filled content delivered right to your inbox! Click here to subscribe to our newsletter.

3. Remember that debt forgiveness is not taxable to insolvent people. Use Form 982 if you received any debt forgiveness forms 1099.  

4. If you just can't get all of your information together by April 18th, you can do what the rich do and file for an automatic six-month extension using Form 4868. You will pay interest and a small penalty if you do not guess your tax correctly and owe money when you finally file your return.

Like it or not, it is our duty as citizens, and good advice, to "Render unto Caesar that which is Caesar's." If the good citizenship reason is unappealing, Jesus's second meaning was that giving Caesar his due protects you from Caesar. Our modern Caesar can garnish your wages, take your cash, seize your home and occasionally it puts people in jail. Protect yourself by making an honest effort to comply with the law. You can and should use every legal means to minimize your taxes, but don't lie on your tax return, and don't fail to file a tax return.

So take an aspirin and go back to work on your taxes. You can turn National Panic Week into National Got-It-Done Week, or at least National Extension Week.

Ron Allen is a Christian businessman, CPA and author who serves in local, national and international ministries spreading a message of reconciliation to God, to men and between believers. He is founder of the International Star Bible Society, telling how the heavens declare the glory of God, and the Emancipation Network, which helps people escape from financial bondage, and co-founder with his wife, Pat, of Corporate Prayer Resources, dedicated to helping intercessors.

Get Spirit-filled content delivered right to your inbox! Click here to subscribe to our newsletter.

Dr. Mark Rutland's

National Institute of Christian Leadership (NICL)

The NICL is one of the top leadership training programs in the U.S. taught by Dr. Mark Rutland. If you're the type of leader that likes to have total control over every aspect of your ministry and your future success, the NICL is right for you!

FREE NICL MINI-COURSE - Enroll for 3-hours of training from Dr. Rutland's full leadership course. Experience the NICL and decide if this training is right for you and your team.

Do you feel stuck? Do you feel like you’re not growing? Do you need help from an expert in leadership? There is no other leadership training like the NICL. Gain the leadership skills and confidence you need to lead your church, business or ministry. Get ready to accomplish all of your God-given dreams. CLICK HERE for NICL training dates and details.

The NICL Online is an option for any leader with time or schedule constraints. It's also for leaders who want to expedite their training to receive advanced standing for Master Level credit hours. Work through Dr. Rutland's full training from the comfort of your home or ministry at your pace. Learn more about NICL Online. Learn more about NICL Online.

Charisma Leader — Serving and empowering church leaders