Tax News Blog

How to File 2010 Taxes in 2015

Posted by admin on March 3rd, 2015
Last modified: March 3, 2015

Still haven’t filed your 2010 Taxes?  Need to do so in a rush?

2010 tax returns were due on April 15, 2011. Even though it’s been four years since the initial filing deadline , you should still file your 2010 taxes. For one. the IRS has 10 years to collect if you happen to owe.

If you’re avoiding filing because of a nasty tax bill, you should keep in mind that putting it off will only make matters worse. IRS late fees have been piling up and are bound to increase the further you get from the deadline.

The good news is that you can still prepare your 2010 taxes in 2015 online with PriorTax. No digging for tax forms. And you can leave the complicated calculations to us.

Here’s how to file your 2010 Taxes:

  1. Create a PriorTax Account: Be sure the 2010 tax year is selected from the Tax Year drop down menu

  2. Enter Your Information: With your 2010 tax forms (W-2s, etc.)  in hand, enter your tax information by following the user-friendly PriorTax application.

  3. Review Your Entered Info: If you need to file a State Return as well, simply select both Federal & State in the Review Tab.

  4. Checkout & Submit: Once you’ve entered all the necessary information, you’ll pay and submit your tax return.

  5. Print, Sign & Mail: The PriorTax team will prepare and review your 2010 return. Once they’ve done so, you’ll be notified. At that point, you’ll simply need to print and sign it before mailing it to the IRS. Read the rest of this entry »

How To File Previous Year Taxes Online

Posted by admin on February 27th, 2015
Last modified: February 27, 2015
Filing previous year taxes may seem like a challenge but there’s no need to fret: we have the perfect late tax solution right here online!

Getting ready to catch up on some taxes you forgot to file? You may think that you have to hunt down late tax forms or tax tables. Well, you don’t.

In fact, PriorTax offers online tax preparation services for tax returns going back to tax year 2005. No forms needed, ever. You can even use our prior year tax calculator to see if you have a refund coming your way from 2011, 2012, or 2013.

Before you start you need to keep this prior tax filing fact in mind: you won’t be able to e-file your previous year taxes. The IRS only offers e-file services to current year tax returns. When the tax season ends, e-file ends. Period. Read the rest of this entry »

2013 Tax Tables

Posted by admin on February 23rd, 2015
Last modified: February 23, 2015

Before filing your late 2013 Tax Return, check out the 2013 Tax Tables

Whether you still need to file your 2013 tax return or you’re wondering what the 2013 tax rates were compared to the 2014 rates, you’ll need to check out the 2013 Tax Tables.

Your 2013 Tax Rate will be dependent on your filing status and your income earned in 2013.

Keep in mind, this 2013 Tax Table is directly correlated to the 2013 Tax Return. Although the 2013 Tax Return deadline was April 15, 2014, you can file your late 2013 Taxes on PriorTax. Read the rest of this entry »

File a Late 2011 Tax Return in 7 Steps

Posted by admin on February 17th, 2015
Last modified: February 17, 2015
File your late 2011 taxes in 2015 with PriorTax.  If not, IRS late fees will continue to grow.

Sometimes it seems easier to put off doing something rather than actually doing it…. Well, atleast that’s what we tell ourselves.

When it comes to preparing taxes, this often seems to be the case. After all, you have other things to do.

Although it’s tempting to leave your 2011 taxes on the back-burner, it’s a better idea to get it done with.

Here’s why you’ll want to file your late 2011 Tax Return ASAP;

  • the very last day you’ll be able to claim a 2011 refund is April 15, 2015
  • if instead, you owe the IRS tax on your 2011 taxes, your late fees continue to increase as time passes Read the rest of this entry »

How To File 2013 Taxes

Posted by admin on February 4th, 2015
Last modified: February 17, 2015
Here’s How To File 2013 Taxes Today

It’s time to file your 2014 taxes but you still need to file your late 2013 taxes. No need to panic- PriorTax is here to help!

However, you shouldn’t wait any longer to file. In fact, IRS late fees and penalties are increasing by the day.

You should also know that although you can prepare your late 2013 return online, you’ll be required to paper file it.

How To File 2013 Taxes Today

If you’ve waited until now to file your 2013 Taxes, it’s best to get it out of the way sooner rather than later.

The deadline to file 2013 Taxes was April 15, 2014. For those who requested an extension on their 2013 tax return, the deadline was October 15, 2014.

As of October 15, 2014, the e-file system for 2013 returns shut down. With that said, you can no longer electronically file 2013 taxes and will be required to paper file your 2013 tax return.

Rather than wasting time trying to do the calculations yourself,  you can prepare your 2013 Taxes online with PriorTax! Here’s how;

  1. Gather your 2013 tax documents
  2. Create an Account on PriorTax
  3. Enter your information (including your personal information, income and any deductions or credits you may qualify for)
  4. Pay and submit your information
  5. Wait for the PriorTax team to prepare your tax return
  6. After a few business days, you’ll receive an email notifying you that your tax return is available for download. Download your tax return.
  7. Print your 2013 Tax Return
  8. Sign your 2013 Tax Return
  9. Mail your 2013 Tax Return to the IRS (and if applicable, to your state)
  10. Sit Back and Relax! Read the rest of this entry »

Need to File 2013 Taxes Late- How Much is the IRS Late Filing Fee?

Posted by admin on January 28th, 2015
Last modified: February 17, 2015
Need to File 2013 Taxes Late? If you have tax due, plan on paying a late filing fee.

Although it’s time to file your 2014 Taxes, you still haven’t filed your 2013 Tax Return.

There are a variety of reasons why you’ve put off filing your 2013 taxes until now. Maybe you:

  • haven’t found the time
  • don’t know how to file 2013 taxes late
  • are avoiding those nasty IRS late fees

If you haven’t found the time or don’t really know how to file late, you’ll be happy to hear that filing 2013 taxes is super easy and straightforward with PriorTax. No headaches involved.

You’ll Only Face IRS Late Filing Fees if You Have Tax Due

If you’re expecting a refund from your 2013 Taxes, you won’t face any IRS late fees. You should keep in mind that you won’t be able to claim your 2013 Refund forever. The deadline to claim a 2013 refund is April 15, 2017.

If instead, you have tax due, you should definitely know that it’s a terrible idea to avoid filing your late 2013 taxes just because you’re afraid of the late fees. Read the rest of this entry »

Do I Need 2013 Tax Forms to File My 2013 Taxes?

Posted by admin on January 15th, 2015
Last modified: January 15, 2015

Need to File 2013 Taxes now? No need to fill out  2013 Tax Forms, PriorTax will do that for you.

If you still need to file 2013 taxes, you’ll be happy to hear you won’t need to track down the 2013 tax forms…Phew.

Instead of wasting time filling out complicated 2013 tax forms, you can file your 2013 taxes online with PriorTax!

How To File 2013 Taxes Now

Although the 2014 Tax Season ended on October 15, 2014 for 2013 Taxes, you’ll still be able to prepare your 2013 Tax Return online with PriorTax. That’s right, absolutely no tax forms necessary!

Follow these steps to (finally) file your late 2013 tax return;

  1. Gather together your 2013 Tax Documents and Information
  2. Create an Account for the 2013 Tax Year on PriorTax
  3. Enter your tax information
  4. Pay and Submit
  5. Once your 2013 Tax Return is available for download, print it out.
  6. Sign and Mail the Tax Return to the IRS
  7. Sit back, relax and wait for Your Refund!

Since the tax season for e-filing 2013 tax returns has ended, you’ll need to paper file your 2013 Tax Return. In other words, don’t stop at step #4. Remember to sign and mail your return!

2013 Tax Tables

Keep in mind that the 2014 Tax Rates won’t apply to your 2013 Tax Return. If you can’t remember what tax bracket you fall into, here’s a 2013 Tax Table to refer to; Read the rest of this entry »

Who Qualifies for the Child Tax Credit 2014?

Posted by admin on January 12th, 2015
Last modified: January 26, 2015

If you meet the requirements to claim the Child Tax Credit 2014, your tax bill may reduce up to $1,000 per child.

Ever since entering the world, your child hasn’t stopped growing and learning. Along with that comes new clothes to buy, weekly visits to the grocery store, the obnoxious costs of summer camp, and of course, the endless dance, karate, and art classes!

As a parent, you understand more than ever before, that every dollar counts. Luckily, the IRS gives a few tax advantages to parents, including the Child Tax Credit.

However, you should note that just because you have a child, it doesn’t mean you qualify to claim the Child Tax Credit. You’ll need to meet the seven requirements. 

Wondering if you make the cut to claim the extra money when filing your 2014 Taxes?  If you meet the seven tests below, you’ll qualify to claim the Child Tax Credit.

1. Age Test

At the end of 2014, your child must have been under the age of 17- so 16 years or younger.

2. Relationship Test

In order to claim the child tax credit, the child must be one of the following;

  • your child
  • your stepchild
  • a foster child placed with you by a court or authorized agency
  • an adopted child (even if the adoption is not final by the end of the tax year)
  • your brother
  • your sister
  • your stepbrother
  • your stepsister
  • your niece
  • your nephew
  • Read the rest of this entry »

What are the IRS Charitable Contribution Limits?

Posted by admin on December 23rd, 2014
Last modified: January 9, 2015

Deductible Charitable Contributions are Limited to 50%, 30% or 20% of your Adjusted Gross Income

If you plan on deducting charitable contributions on your tax return, you’ll want to keep in mind that the IRS places limitations on how much you can write off.

Generally, you’ll be able to deduct charitable contributions up to 50% of your Adjusted Gross Income (AGI). However, this is not always the case.

In fact, depending on the organization you donated to and what you donated could alter this limit to 30% or even 20% of your AGI.

If you want to receive the maximum refund possible, learn the limitations before donating. Then, when it’s time to file your taxes, PriorTax will do the calculations for you!

50% Limit

The total amount of charitable contributions you can deduct on your taxes cannot exceed 50% of your Adjusted Gross Income.

In other words, if you made $80,000 during the year, then you’ll be able to include up to $40,000 in contributions in the deductions section of your tax return.

However, not everything you donate nor every organization you donate to is included in this 50% limit. Before donating to a charity, you may want to ask the organization if they are an IRS Qualified Charity and whether or not they’re considered a “50% Limit Organization”.

If they fall into both categories, you’ll be able to deduct up to 50% of your income in cash contributions you made to the organization. Read the rest of this entry »

Can I Deduct Donations Made to Any Organization? | IRS Qualified Charities

Posted by admin on December 18th, 2014
Last modified: December 18, 2014

Contributions to Tax-Exempt Organizations aka “IRS Qualified Charities” are Tax Deductible

If you itemize your deductions (rather than taking the standard deduction), your donations are tax deductible. Don’t get too excited though, you’ll only be able to deduct contributions made to qualified charities and organizations.

Not sure what organization to donate to this year? We’re here to help clarify what types of charities are IRS qualified to lower your taxable income. Then, once it’s time to report the contributions you made, we’ll guide you through filing your taxes!

How Do I Know if a Organization is Qualified Tax-Exempt?

If you donated (or plan on donating) to a specific organization, you may be unsure if you’ll be able to include the generosity on your tax return.

Luckily, the IRS has a search tool on their website, allowing you to enter the organization’s name and location to find out whether their considered an “exempt organization” and tax deductible.

In order to deduct a contribution, the organization will either need to;