Archive for the ‘Late Taxes’ Category

What If I Missed the October 15 Tax Deadline?

Thursday, November 20th, 2014

Tax Season Officially Ended on October 15 but you can still use PriorTax 2013 Tax Software.

If you planned on filing your taxes by the October 15 deadline but never got around to it, don’t panic.

Although October 15, 2014 was the last chance you had to e-file a 2013 tax return, you’ll still be able to prepare your 2013 taxes online with PriorTax. Thanks to the 2013 tax software, you won’t waste hours doing taxes.

However, you should file your late 2013 taxes sooner rather than later. 

You’ll Have To Paper File Your Late Tax Return

As of October 15, the IRS shut down the e-file system to prepare for the upcoming tax season. You missed your chance to electronically file and will need to mail your late taxes.

Luckily, you won’t need to prepare your tax return completely by yourself. PriorTax is one of the only 2013 tax software services available for late tax preparation. (more…)

Need Help Filing 2013 Taxes Late?

Wednesday, November 19th, 2014

If you need help filing 2013 taxes, PriorTax is here.

Have you been putting off filing your 2013 taxes and still need to gather your 2013 tax forms? Maybe you haven’t yet filed your 2013 tax return because you’re unsure of how to fill out a 2013 tax form 1040.

Whatever the case may be, we understand that completing a 2013 tax return may seem overwhelming. However, as much of a headache taxes may appear to be, it’s best to get your 2013 tax return out of the way sooner rather than later.

The good news is that PriorTax makes completing a 2013 tax return easy. In fact,  while other online tax services no longer offer 2013 tax software, you can prepare your 2013 taxes with PriorTax!

Before, getting started, here’s a few 2013 tax return tips to keep in mind.

 #1: Late Fees Increase As Time Passes

If you’re getting a refund, there’s no need to freak out. You won’t face late fees for filing late. However, if you have tax due on your 2013 taxes, then the longer wait to file and pay your tax bill, the worse the penalties become.

There’s two late penalties; a late-filing penalty and late-payment penalty. Here’s what you need to know;

Late-filing Penalty: 5% of the additional taxes owed amount for every month (or fraction) your return is late, with a maximum penalty of 25% (more…)

April 15, 2015 is the Last Day to Claim Your 2011 Tax Refund

Tuesday, October 28th, 2014

After April 15, 2015, you’ll no longer be able to claim your 2011 Tax Refund

Mark your calendar- April 15, 2015 is not only the deadline to file your 2014 tax return, it’s also the last day you’ll be able to file your 2011 tax return and receive your 2011 refund.

The status of limitations only allows tax filers three years to claim a tax refund.

So where does the unclaimed money go after the three year period has passed? You guessed it- the IRS keeps it.

Don’t hand over your money to the government, file your 2011 tax return today and claim your refund before it’s too late!

How To File Your 2011 Taxes

It’s not yet the 2011 tax return deadline to claim your refund money. That means, you can complete your tax return today and wait for your refund check from the IRS. Here’s how; (more…)

How To File 2013 Taxes in 2015

Thursday, October 23rd, 2014

File your late 2013 Taxes ASAP. If not, the IRS late penalties will continue to increase.

Still need to file 2013 taxes?  Avoiding doing your taxes is tempting, we understand. However, late penalties and fees increase as time passes, so it’s best to get caught up, even if that means you’re filing your 2013 taxes in 2015.

The good news is you can file 2013 taxes on PriorTax! Although the 2014 tax season is over and you’re filing late, you’ll finally be able to get your 2013 tax return out of the way!

After all, it’s better to file late than to never file at all!

How to File 2013 Taxes Now

If the thought alone of filing your taxes is overwhelming, take a deep breath. We are here to help. You’ll get through it. (more…)

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…)