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 online 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%. Keep in mind, if you file more than 60 days after the due date, then you’ll be fined at the very least, a minimum penalty of $135.
- Late-payment Penalty: 0.5% (1/2 of 1%) of the additional tax owed amount for every month (or fraction) your tax remains unpaid, up to a maximum of 25% For any month that you receive both a late-payment and late-filing penalty, then the 0.5% late-payment penalty is waived.
#2: File Your Return As Soon As You Can, Even if You Can’t Pay Your Tax Bill
The late-filing penalty can be 10 times higher than the late-payment penalty, so it’s best to file your return as soon as you can, even if you can’t pay your tax bill right away.
Not to mention, the IRS is willing to work with you to set up a payment plan to pay your tax due.If you think you can pay off your outstanding tax bill, call the IRS at 1-800-829-1040.
#3: You have until April 15, 2017 to Collect a 2013 Refund
If you’re expecting to receive a refund from your 2013 taxes, you should file as soon as possible to receive the money you’re entitled to. There’s a three year IRS statute of limitations, meaning after April 15, 2017, you won’t be able to collect your 2013 refund.
#4: Use 2013 Tax Software to Prepare your Taxes
In order to prepare your 2013 tax return, there’s three options to get the job done. You can either;
- complete a 2013 tax form on your own
- pay an expensive accountant to do it for you
- use tax software site to do the work for you without charging you a large fee
If you have common sense, you’ll know right away that #3 is your best option. Doing your taxes yourself will cost you time and aggravation while having an accountant do it for you, will cost you a fortune. Save your time and money by entering your tax information on PriorTax and will do the hard work for you.
If you have questions along the way, you’ll be able to call, chat or email the PriorTax team!
#5: Don’t Forget To Mail Your 2013 Tax Return to the IRS
Whether you use an online tax software or do your taxes yourself, you’ll need to paper file your 2013 taxes to the IRS. Unfortunately, as of October 15th, you’re no longer able to e-file (electronically file) your 2013 taxes.
That means, you’ll need to print, sign and mail your 2013 taxes to the IRS (and if applicable, your state).
Whatever you do, don’t wait any longer to file your 2013 tax return. The late penalties add up!
To get started on your 2013 tax return, create an account on PriorTax. In no time, you’ll have your 2013 taxes finally done with!
Photo via Toby Jagmohan on Flickr