February is well-known for being the month of love. Usually, it is associated only with romantic love, but it can also be about platonic love, filial love, or even self-love. It can even be associated with patriotic love.
As citizens, we can show our love by paying our taxes and helping our government function. As the saying goes, taxes are the lifeblood of our government. Without taxes, our government cannot exist. But for taxpayers, paying taxes is more of a love-hate relationship.
While it is easy to appreciate helping the government, it is not so easy to see hard-earned income being taken away, especially when these payments to the government include fines and penalties.
However, taxpayers only need to pay the right taxes due. They can easily avoid paying unnecessary fines and penalties by knowing what taxes they have to pay, what they have to submit, and when they have to file and pay their taxes.
On this day of love, let us kick off the start of the tax season and file our tax returns on time. ACG Founding Chairman and Chief Tax Advisor Mon Abrea has consistently filed his tax returns on February 14, be it in the Philippines or, like now, in the United States. Being an international student, he is still required to file certain forms with the IRS regardless of whether or not he has income there.
If you are not certain on how you can reduce your taxes by avoiding compromises, fines, and penalties, then you can reach out to ACG at consult@acg.ph or visit our website at www.acg.ph and book a consultation! Spend an hour with us to discuss your tax problems and we’ll see if we can provide a solution for you!
