Monday, November 17, 2008

It's April 15 in Ireland

That's how I always think about it, anyway. April 15 is the deadline for filing taxes in America and that deadline is just ingrained in the American psyche. That's not quite true here because apparently many (most?) people who work and pay taxes don't bother to file a return, although I'm not sure why. Regardless, today is the deadline for filing the return and paying off your tax bill for 2007.

I suspect that a lot more filers will be reporting smaller incomes/profits for 2007 than the government wants to believe and that the revenues will be lower (& refunds greater) than expected. And, additionally, the payments for preliminary taxes due on 2008 income/profits will be a lot lower. I think the recent budget forecasts will prove to have been too optimistic.