Archive for the ‘Late Taxes’ Category

How to File a Tax Return with Multiple Types of Income

Thursday, October 16th, 2014

Reporting multiple sources of income on a tax return may seem overwhelming. We’re here to help.

Most tax filers report income earned from an employer on a tax return. This information is listed on a W-2 form and is usually pretty easy to report on a tax return.

However, filing a tax return can become more complicated if you have more than one income source.

For example, many of those who work as independent contractors are also employed part-time. Both forms of income must be reported on a tax return.

Whatever your case may be, the IRS requires you to report (and pay tax on) all sources of income. Not just one.

If you avoided filing a tax return because you were overwhelmed by the confusion of reporting multiple types of income, you’ll still need to do so. Luckily, PriorTax makes filing multiple types of income easy.

To report multiple types of income on a tax return, simply create an account with PriorTax and enter your income information from each source. After your return is prepared by the PriorTax team, you’ll simply print, sign and mail it to the IRS.

Different Forms of Income

The following are forms of income you will need to report on a tax return;

  • salary, wages & tips
  • independent contractor income
  • rental income
  • interest or dividend income
  • government payments
  • retirement account withdrawals
  • other income (more…)

How To File 2011 Taxes in 2015

Tuesday, October 14th, 2014

In order to receive a 2011 Tax Refund, you’re required to file 2011 taxes by April 15, 2015!

Still need to file your 2011 taxes? It’s best to file your late taxes as soon as possible.

The IRS only allows tax filers three years to collect a tax refund.  That’s three years from the original tax return.

2011 tax returns were due on April 15, 2012. That means the very last day you can file a 2011 return and receive a 2011 refund is April 15, 2015.

After April 15, 2015, your 2011 refund will be forever gone. Once this three year statute of limitation passes, your money belongs to the U.S treasury and there’s no way of claiming it or applying it to another tax year.

Expecting a Refund? You Won’t Face Late Penalties

The fear of facing late penalties and interest lead many taxpayers to avoiding filing a late tax return. However, it’s good to keep in mind that those expecting a tax refund won’t end up with late penalties or interest. (more…)

When Can I File My 2014 Taxes?

Monday, October 13th, 2014

Wondering the earliest date to file 2014 taxes?

Each year, the first day of the tax season changes from the previous year.

Last tax season, the first day to file wasn’t until January 31, 2014, while the 2013 tax season started on January 30, 2013. Before that, the 2012 season began much earlier at January 17 for e-filers!

The IRS has yet to release the official start of the 2015 tax season to file a 2014 tax return. The date will most likely fall sometime towards the end of January, 2015. 

The good news is that until then, you can get caught up on your prior year tax returns in the mean time. With PriorTax, you’ll be able prepare your 2013, 2012 or any prior year going back to 2005!

How to File Your 2014 Taxes in 2015

1. Get Caught up on Your Late Taxes: Before it’s time to file your 2014 tax return, get your previous year taxes out of the way! With PriorTax, it’s easy.

2. Stay Organized: Have all your documents, receipts and W-4 forms in order before you start your tax return.

3. E-File 2014 Tax Return: Electronically filing your 2014 tax return is safer, easier and MUCH faster than paper filing. (more…)

Filing Taxes in Two States: Working in NY & Living in NJ

Friday, October 10th, 2014

If you’re living and working in different states, plan on filing taxes in two states.

For many,  working and living in different states can save you a lot of money. This is especially true if you work in an expensive city like New York City.

The commute from New Jersey to the Big Apple may be much more attractive to you, especially if you’re looking for more space, lower costs and fewer people.

However, you’ll want to keep in mind that those who work and live in different states are required to file taxes in both states.

In other words, you’ll need to file both a New Jersey and New York state tax return.

File a Non-Resident NY State Tax Return & a Resident NJ State Return

If you’re working in a different state than you live in, you’re required to;

  • file a non-resident state return to the state you work in
  • file a resident state return to the state you live in
  • file a federal tax return (more…)

NY Middle Class Families to Receive $350 Check | Tax Rebate

Thursday, October 2nd, 2014

Thousands of NY Middle Class Families will be receiving a $350 Rebate Check from NY State This Month

If sometime over the next month you receive a $350 check from New York State, don’t throw it away.  It’s not a joke. Instead, it’s a Middle Class Family Rebate from the state.

That’s right, instead of you writing a check to the government, they may be writing you one.

Along with the NY state check, there will be a letter stating something along the lines of “Dear Taxpayer: Last year’s State Budget included this Family Tax Relief Credit. This tax relief is part of New York State’s new effort to reduce taxes”.

Who is Eligible to Receive NY Middle Class Family Rebate Check

You can expect to see the Family Relief $350 check if you meet the following qualifications;  

  • you’re a New York State resident
  • you claimed a child under age 17 on your 2012 tax return
  • your family’s 2012 adjusted gross income was between $40,000 and $300,000 (more…)

Filing Past Taxes: Tax Tips for the Unemployed

Tuesday, September 30th, 2014

Unemployment benefits are taxable. You can still file late tax return & report unemployment

If you’re wondering  if you need to file a prior year tax return for a year you were unemployed in,  the answer is yes.

Being unemployed doesn’t mean you have a free pass to avoid filing a tax return. Sooner or later, you’ll need to file your late tax return and pay tax on any income received, even if it’s unemployment benefits.

Chances are, you’ll not only need to report unemployment on a federal return, but a state return as well.

Get Caught up and File a Late Tax Return

Any income you received during the tax year counts as income that needs to be reported on a tax return. The IRS considers unemployment benefits as income that must be reported on a tax return.

If you never filed a return in a previous year that you were unemployed, you’ll still need to do so. Fortunately, you can file a late tax return with PriorTax. (more…)

Deadline to E-File 2013 Tax Return was October 15, 2014

Wednesday, September 24th, 2014

If you requested an extension, the deadline was October 15, 2014

The deadline to file a 2013 tax return was October 15, 2014. Since the deadline to file has passed, you’ll no longer be able to e-file a 2013 tax return.

How To File Late 2013 Taxes

If you still need to file a 2013 tax return, you can still prepare your 2013 tax return with PriorTax. We’ll do the hard work for you and afterwards, you’ll need to print, sign and mail your 2013 taxes to the IRS.

To file your late 2013 tax return, follow these steps;

  1. Create an Account on PriorTax 
  2. Enter the requested information
  3. Pay & Submit
  4. After your return is prepared, we’ll notify you. At that point, you’ll print, sign and mail it to the IRS.

PriorTax makes doing taxes easy. That means, you can have your 2013 taxes done in as little as 10 minutes!

Don’t wait!

The longer you wait to file your 2013 taxes, the higher your late fees will be.  (more…)

What You Need to Know about Filing Late 2013 Tax Return

Wednesday, April 30th, 2014

Filing a late 2013 Tax Return? Get it done sooner rather than later!

Did you forget to file your 2013 tax return? If so, you’re officially filing late (as of April 16, 2014) and will face late penalties.

In fact, the 2014 tax season ended on October 15, 2014. That means, filers can no longer e-file a 2013 tax return. Not only that, but those who requested an extension on a 2013 return and missed the October 15th deadline will face late penalties and fees.

Late Penalties

If you have tax due, IRS late penalties and fees increase by the day. The means the longer you wait to file, the more you’ll end up handing over to the IRS.

However, if your expecting a refund then you won’t have to worry about paying late penalties. You have until April 15, 2017 to collect your 2013 tax refund. After that, the three year statute of limitations will end and you’ll no longer be able to collect your refund money.

Wondering what your late fee will look like? Your specific situation will determine which late penalties you’ll face. Below, find the circumstance which describes your filing status best; 

You’re filing late

  • If you have tax due and didn’t file by the tax deadline,  then you’ll face a failure-to-file penalty. For each month (or portion of each month) your taxes are left unpaid, the penalty is 5% of your tax due amount. The maximum penalty is 25%.


April 15, 2014 is the Last Day to Claim your 2010 Tax Refund

Monday, February 3rd, 2014

April 15, 2014 is the last day to file your 2010 tax return and claim your refund. For those with an extension, the deadline is October 15, 2014.

You may have April 15, 2014 on your mind as the deadline to file your 2013 taxes. April 15, 2014 is not only the deadline to file your 2013 taxes, but it is the deadline to file your 2010 taxes and receive your tax refund.

The statute of limitations allows up to three years for taxpayers to claim a tax refund. That means, any refunds outside of the three-year limit will not be granted. File your 2010 taxes online with PriorTax and receive your 2010 refund.

How do I file my 2010 taxes in 2014?

To file your 2010 taxes in 2014, simply create an account on PriorTax for the 2010 tax year. Once you finish, be sure to submit. Our team of tax experts will review your account for accuracy. Once reviewed your return will be available for download. You’ll have to print the return and mail it to the IRS.  It may take the IRS up to 12 weeks to process your 2010 tax refund.


I Need the IRS 2012 Tax Table

Wednesday, January 22nd, 2014

Do you still need to file your 2012 taxes but first need to learn the 2012 tax rates?  Take a look at our 2012 federal tax table.

If you did not file your 2012 taxes (in 2013), it’s best to do so as soon as possible. Before doing so, learn your federal tax rate for 2012. Regardless of what bracket you fall into, you should file your 2012 taxes sooner rather than later. PriorTax offers late tax filing not only for 2012 but also for years dating back to 2005.

The 2012 tax rates are generally the same as 2011′s tax rates. However, the 2013 tax rates increased from 2012 for taxpayers making over $400,000 (while the income tax brackets have slightly changed).  That means, it’s important to note the 2012 tax table differs from the 2013 tax table. (Hint- don’t use this tax table for filing 2013 taxes).