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.
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.