Archive for the ‘Late Taxes’ Category

File Late 2014 Taxes Online

Monday, June 8th, 2015

OK, your 2014 taxes are late.

The April 15th deadline has come and gone and you have yet to file your 2014 tax return. Take a deep breath. The good thing is you can still e-file your late 2014 taxes online. However, you may be subject to one or more IRS penalties.

What penalties to expect

There are two penalty fees that the IRS has in place that you may be subject to.

Failure-to-file: this equals out to be 5% of your unpaid taxes for each month or part of a month that a tax return is past the April 15 deadline. This fee caps off at 25% of your unpaid tax.

There are two instances when this could apply to you:

  1. You owe tax and didn’t file your tax return or an extension of the time to file by April 15th, or
  2. You owe tax and still don’t file your tax return by the October 15th tax extension deadline

 

Failure-to-pay: this works out to be 0.5% of your unpaid tax per month or part of a month and begins to accrue the day after taxes are due in April. This fee caps also off at 25% of your unpaid tax.

To be liable for this, you must owe tax and:

  1. not have filed your tax return or extension by April 15th, or
  2. have filed an extension for your current year tax return by April 15th deadline but paid less than 90% of the tax amount due, or
  3. have filed an extension for your current year tax return by April 15th but didn’t pay any of the tax amount due

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How to Check A Prior Year Tax Return Status

Thursday, June 4th, 2015

How about using the “Where’s My Refund” IRS tool?

Although the IRS “Where’s My Refund” tool is available to check the progress of your return, it only applies to the tax return you filed for the most current tax year.

For example, let’s say you file your 2013 tax return and soon after remember to file your late 2012 return. Although you filed your 2013 taxes before your 2012, 2013 is going to be the one that the IRS site shows the status for since it is the most recent tax year in their database for you.

So how do you check the status of a prior year tax return you just sent to the IRS?

Brace yourselves. A lot of you aren’t going to like Plan B. You’ll need to call the IRS. Of course, you don’t want to mail your return and call on your lunch break the following day. The IRS insists that you wait it out for at least 6 weeks after mailing your return to call and check on the status. When you call, make sure you have the following handy:

  • your tax year
  • your social security number
  • your filing status
  • your exact refund amount

You can call 1-800-829-1040 and follow the prompts for a live representative. The person that you speak with will have direct access to your tax return and be able to provide you with a status update.

Tip: Request a tracking number when mailing your return. It’ll give you peace of mind to know that it arrived safe and sound.

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Where is My 2013 State Tax Refund?

Wednesday, May 20th, 2015

How to check the status of your 2013 state tax refund

After filing your state tax return, you can track the status of your 2013 state tax refund by visiting your state agency’s tax refund status page. Click your state in the list below to go to that page:

AlabamaArizona
ArkansasCalifornia
Colorado Connecticut
DelawareGeorgia
Hawaii Idaho
Illinois Indiana
IowaKansas
KentuckyLouisiana
Maine Maryland
MassachusettsMichigan
Minnesota Mississippi
Missouri Montana
NebraskaNew Jersey
New MexicoNew York
North Carolina North Dakota
OhioOklahoma
OregonPennsylvania
Rhode IslandSouth Carolina
UtahVermont
Virginia West Virginia
Wisconsin 

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Filing A 2013 Tax Return : Fact vs Fiction

Wednesday, May 13th, 2015

Have you put filing your 2013 tax return on the back burner?

If your answer to that question is yes, you will want to sort out the facts from the fables before you are ready to get the job done. There is quite a bit of misunderstanding around when it comes to late tax filing.

For example:

 

Fiction: I can still e-file.

Fact: Unfortunately, you’ve missed the train on this one. October 15th, 2014 was the absolute last day for you to e-file your 2013 tax return as an individual. That’s because the IRS shuts down their e-file system on this date each year.

 

Fiction: I can submit my 2013 tax return online to the IRS.

Fact: Nope, sorry but you’ll need to download, print, sign, and mail your 2013 tax return.

 

Fiction: I can’t prepare my late 2013 tax return online because I need tax forms and tax tables.

Fact: You can prepare your return in just 10 minutes with Priortax now. No tax forms, no tax tables, no tax rates: the application pulls these for you. And with help from our tax experts, we’ll have you skipping to the mail box in no time!

 

Fiction: I can’t file my 2013 tax return because I still have a 2012 tax return to file.

Fact: Yes, you can. To avoid the snowball effect of penalty fees and interest though, you should file both returns as soon as possible.

 

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How To File 2008 Taxes in 2015

Monday, April 6th, 2015

Here’s how to get caught up on your late 2008 taxes

If you forgot to file your 2008 tax return, you should do so as soon as possible. Sure, it’s been 6 years since the tax filing deadline for that year, but you should still get caught up.

Here are two very good reasons reasons why:

  1. The IRS has up to 10 years to collect
  2. Late fees increase by the day if you owe tax from that year (the longer you wait, the worse the situation)

And an even better one:

  1. Uncle Sam is knocking at the door.

Before you get started, there’s something you must know: you won’t be able to e-file your 2008 taxes. In fact, the IRS shuts down the e-file system at the end of each tax season and that one was, well, a long time ago.

If I can’t e-file then how do I file?

With easy e-filing unavailable, it  means that after you have prepared your tax return and we’ve reviewed it you will need to download, print, and sign it before hopping over to the post office to mail it to the IRS or state.

So if you’re suddenly in a hurry to get that 2008 return out, you want to allow for some time ahead.

Follow these 7 Simple Steps

Here’s a convenient recap of how it works: (more…)

Can I File My 2009 Taxes Online?

Thursday, March 26th, 2015

You can prepare your 2009 tax return online with PriorTax. 

Once, a long time ago, 2009 tax returns were due on April 15, 2010.

If you’ve been putting off filing your 2009 taxes since that initial deadline, you may wonder why you should bother filing at all?

There are a couple of good reasons you should do it.

For one, the IRS has 10 years to collect on any tax you owe. For two, tax penalties for filing late increase by the day and, by now, they have really built up. The longer you wait, the worse the situation.

The good news is that you can still prepare your 2009 taxes online with PriorTax.

Will I Owe the IRS Late Penalties?

If you owe the IRS from the 2009 tax year, plan on paying late penalties. These late fees include:

  • Failure-to-file: 5% of your tax due total for each month your return is filed late, up to 25%
  • Failure-to-pay: ½ of 1% of your unpaid taxes for each month or part of a month left unpaid (this amount is waived if you’re already facing the failure-to-file penalty)

The penalty for filing late can be ten times worse than the penalty for paying late. At the very least, file your 2009 return as soon as possible.

Then, contact the IRS to arrange to pay your tax bill. They can set up an installment plan that will work for you. (more…)

Can I E-File My 2014 Taxes after April 15?

Wednesday, March 18th, 2015

Yes, the very last day to e-file a 2014 tax return is October 15, 2015.

October 15, 2015 is the very last day you’ll be able to e-file a 2014 tax return.

However, after April 15, 2015 (the IRS tax filing deadline), your 2014 Tax Return will be considered late.

If you’re expecting a refund from your 2014 taxes, you won’t be penalized for filing after the deadline. On the other hand, if you have tax due, you’ll face IRS late penalties for filing after April 15th.

But, beware of IRS late penalties!

Plan on filing after the April 15 deadline? If you have tax due, you could end up with a nasty tax bill.

IRS late fees include the following:

  • Failure-to-file penalty: the penalty for filing late is 5% of the additional taxes owed amount for every month (or fraction thereof) your return is late, up to a maximum of 25%

  • Failure-to-pay penalty: late payment penalty is 0.5% (1/2 of 1 percent) of the additional tax owed amount for every month (or fraction thereof) the owed tax remains unpaid, up to a maximum of 25%. (more…)

How to File 2010 Taxes in 2015

Tuesday, March 3rd, 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. 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. (more…)

How To File Previous Year Taxes Online

Friday, February 27th, 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. (more…)

2013 Tax Tables

Monday, February 23rd, 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. (more…)