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The Evolution of Baseball and the IRS PITCHING PENNIES
“In the game of taxes, mistakes are like occasional wild pitches: They happen.”
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Evolution Over Time: Just as baseball has adapted through rule changes and technological advancements, the IRS has evolved with amendments to tax laws and the incorporation of digital processes to improve efficiency and taxpayer accessibility. Universal Participation: Baseball is enjoyed by many ages and backgrounds. Similarly, the IRS works with all employed Americans and businesses.
It’s that time of year again — baseball season is back! As games return in full swing, we also see familiar traditions that have become integral to American culture (just like apple pie). Among these huge institutions is the Internal Revenue Service (IRS), whose origins and evolution create many unique similarities to the history of baseball. The IRS was established during the Civil War era. In 1862, President Abraham Lincoln and Congress introduced the nation’s first income tax to fund war expenses, which led to the creation of the Office of the Commissioner of Internal Revenue. This tax, initially intended as a temporary measure, laid the groundwork for the modern tax system. Although the income tax was repealed in 1872, it was reinstated in the early 20th century, leading to the ratification of the 16th Amendment in 1913, which granted Congress the authority to levy income taxes. During this same time, baseball was solidifying its status as America’s pastime. The sport gave us a sense of unity and normalcy. From the establishment of professional leagues to its role in integrating diverse communities, baseball has mirrored America’s journey through the decades.
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Interacting with both baseball and the tax system requires active participation. Whether or not you realize it, each tax season (and all year long), you are fulfilling tax obligations. Attending a ball game or participating in our current tax system fosters community. Proactively approaching tax responsibilities, such as timely filing and understanding deductions, change a routine obligation into an exercise of informed citizenship. So, as we start heading out to the ballpark or clicking through the games on TV, it’s a great time to acknowledge the IRS’s role in society. Both baseball and the IRS, in their own unique ways, contribute to American life. They reflect our history, responsibilities, and the shared experiences that bring us together. In the game of taxes, mistakes are like occasional wild pitches: They happen. But don’t let fear keep you from stepping up to the plate. If you get hit, address the error right away — that’s what we are here for! At the end of the day, everything is going to be all right. -Ben Golden
APR 2025
While baseball and the IRS have completely different purposes, they have a lot in common:
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Deep Cultural Roots: Both institutions have been embedded in American life for over a century and have shaped our identity.
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Trim Financial Fat Living the Dream — Without the Debt Many Americans dream of traveling to exotic destinations, buying a home, or retiring early. Realizing those dreams, however, requires saving some cash — a habit that is becoming a dying art. Only 41% of Americans have emergency savings to cover unexpected medical bills or repairs, and more than 25% have no savings at all, according to a Bankrate survey. Instead, more people are using credit cards to cover expenses and vacations, driving consumer credit card debt to a record $1.17 trillion in 2024, up 8.1% from 2023. Inflation and low pay are partly to blame, but taking charge of your spending can still bring you closer to achieving your dreams. Here are two ways to better your budgeting. Take control of your bills. A smart first step is to stop spending everything you earn. Start by tracking where all your money is going. List fixed expenses, such as housing, and variable costs, such as utilities and food. Add up subscriptions, transportation, entertainment, and health care spending. You can also track your incidental expenses in popular apps like YNAB, Monarch, Goodbudget, and PocketGuard. Then, look for places to trim. To reduce utility bills, consider lowering the thermostat or installing low-flow fixtures. Cancel subscriptions you aren’t using. (Nearly half of subscribers pay for streaming services they don’t use.) Consider preparing more meals at home as the cost of dining out has soared! And make paying off credit card debt a top priority; those high-interest charges are a cancer on your budget. If you can’t pay off your balances, try switching to a lower-interest card or ask your provider for better terms.
LAST-MINUTE TAX T FOR AN EXTENSION A
As the April 15 tax filing deadline approaches, many taxpayers may still be unprepared to submit their returns. Fortunately, the Internal Revenue Service (IRS) offers an option to request an extension, providing additional time to file without incurring late-filing penalties. Here’s what you need to know about tax extensions before the deadline. Understanding Tax Extensions A tax extension grants taxpayers an additional six months to file their federal income tax returns, shifting the deadline from April 15 to Oct. 15. It’s important to note that this extension applies only to filing your return, not paying any of the taxes owed. Taxpayers are still required to estimate and pay any taxes they owe the IRS by the original April 15 deadline to avoid interest and penalties.
How to Request an Extension There are several methods to request a tax extension:
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Online Payment With Extension Indication: You can make a payment using the IRS’s electronic payment options and select the option
indicating the payment is for an extension. This method automatically grants you an extension without the need to file a separate form. • IRS Free File: The IRS offers a Free File
Cultivate healthier habits. Strive to set aside 50% of your income for basic needs, 30% for things you want, and 20% for savings. If you can’t save 20%, start with a smaller percentage. Pay yourself first by setting up automatic transfers into your savings.
KETO LEMON GARLIC BUTTER CHICKEN Inspired by DietDoctor.com
Online shopping with credit cards can be a significant
budget drain. Restricting yourself to debit card or cash-only payments can help you reduce impulse purchases.
If you yearn for a little retail therapy, dive into a cleaning project, call a friend, or do volunteer work — distract yourself! Even if these steps seem menial at first, your savings over time will bring you closer to realizing your dreams!
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program that allows taxpayers, regardless of income level, to electronically request an automatic tax-filing extension. • Form 4868: Filing Form 4868, “Application for Automatic Extension of Time to File U.S. Individual Income Tax Return,” can be done electronically or by mail. This form must be submitted by the April 15 deadline. TIPS: HOW TO APPLY AND AVOID PENALTIES
The Power of Proper Timing
Things to Consider Payment Obligations
An extension doesn’t extend the time to pay any taxes owed. To avoid interest and penalties, you should estimate your tax liability and pay any amount due by April 15. State Tax Returns An extension for your federal tax return does not automatically apply to state tax returns. Check your state laws to find out if a separate extension request is necessary.
Confirmation of Extension After submitting your extension request, ensure you receive confirmation from the IRS. If filing electronically, you should receive an acknowledgment. If mailing Form 4868, consider using certified mail to have proof of timely filing.
CASE SNAPSHOT Client: Business Owner Type of IRS Issue: Personal and Business Tax Years in Question: Multiple IRS Claimed Liability: $1,226,759.17 Savings: $1,162,867.04
INGREDIENTS
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4 chicken thighs, bone-in, skin-on Salt and pepper, to taste
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1/4 cup low-sodium chicken broth 2 tbsp heavy cream
Our client faced significant IRS challenges, including being personally assessed with the Trust Fund Recovery Penalty totaling $1,162,867. Additionally, they had an outstanding personal income tax debt of $63,892. In order to pursue resolution, clients must be in compliance, which means all returns must be filed. As we were waiting for the required tax returns to be completed, the client started making business changes that resulted in increased income and assets. This complicated the resolution side. When the returns were finally completed, the CSEDS (Collection Statute Expiration Date) had run, and the Trust Fund Recovery Penalty was no longer collectible! Because the spouses had community assets but had filed separately, no liens had been placed, saving the client over $1 million! We were able to get the client to pay his personal balance down and establish an Installment Agreement, which allowed the client to continue his finance options for his newly growing business. This was one of those cases where time really was on our side!
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2 tbsp olive oil
1 lemon, zest and juice 2 tbsp chopped parsley, for garnish
2 tbsp unsalted butter 2 cloves garlic, minced
1. Preheat oven to 400 F and season chicken with salt and pepper. 2. Heat olive oil in an oven-proof skillet over medium heat. Sear chicken skin-side down until crispy, about 5 minutes. Flip and cook 2 more minutes; remove from skillet and set aside. 3. Melt butter in skillet, then sauté garlic until fragrant. Add broth, cream, lemon juice, and zest. Simmer for 3 minutes. 4. Return chicken to skillet, spoon sauce over, and bake in oven for 15–20 minutes or until cooked through (165 F internal temperature). Garnish with parsley before serving. DIRECTIONS
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1 Home Runs and Tax Returns 2 Master Your Budget, Achieve Your Dreams Your Guide to Postponing the April 15 Tax Deadline 3 Keto Lemon Garlic Butter Chicken INSIDE THIS ISSUE
Win of the Month 4 Escape to Paradise: Savoring the Beauty and History of Antigua
DISCOVER THE ENDLESS BEACHES AND VIBRANT CULTURE OF ANTIGUA Journey Through Time
Can you imagine escaping to a tropical island where you can visit a different beach every day for a year without ever seeing the same one twice? It’s not a fantasy. It’s Antigua. Antigua has long been known for its 365 beaches, from Halfmoon Bay’s silvery sands to Galley Bay Beach’s surfing waves. Unique for its history and native crafts, this eastern Caribbean island is rich in recreational and cultural attractions, as well as natural beauty. Christopher Columbus encountered Antigua in 1493, and the British subsequently colonized the island and neighboring Barbuda in the 1600s. Barbuda was originally planned as a slave-breeding colony, but the enslaved people brought to the island rebelled against colonial rule. After years of domination by the United
Kingdom, Antigua and Barbuda achieved independence as a single nation in 1981.
Although Antigua covers only 108 square miles, it has a rich history and cultural traditions. Nelson’s Dockyard National Park offers archaeological sites and more than 12 miles of hiking trails. The 8th of March Project commemorates the lives of enslaved and free Africans who labored on the docks for centuries. Energetic hikers can make their way up a steep trail to Shirley Heights, 492 feet above sea level, to enjoy a panoramic view across the sea. Among Antigua’s unique attractions is the centuries-old artisan craft of forming tamarind seeds into jewelry and home decor. The island is also home to one of the rarest fruits in the world, the Antigua black pineapple, which is sweet and delicious sliced fresh or in jelly form. Also, a
weekly archaeological tour called “Rum in the Ruins” offers a history of the sugar trade and the island’s famous rum. Antigua’s Summer Carnival is one of the most popular in the world. The celebration began when people took to the streets in 1834 to celebrate the emancipation of enslaved people and independence from England. Visitors to the Carnival today can enjoy wildly colorful costumes and 10 days of music, dancing, and parades. Among the most memorable experiences are steel band competitions playing calypso and soca music.
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