Archive for the ‘Late Taxes’ Category

Need to File 2013 Taxes Late- How Much is the IRS Late Filing Fee?

Wednesday, January 28th, 2015

Need to File 2013 Taxes Late? If you have tax due, plan on paying a late filing fee.

Although it’s time to file your 2014 Taxes, you still haven’t filed your 2013 Tax Return.

There are a variety of reasons why you’ve put off filing your 2013 taxes until now. Maybe you:

  • haven’t found the time
  • don’t know how to file 2013 taxes late
  • are avoiding those nasty IRS late fees

If you haven’t found the time or don’t really know how to file late, you’ll be happy to hear that filing 2013 taxes is super easy and straightforward with PriorTax. No headaches involved.

You’ll Only Face IRS Late Filing Fees if You Have Tax Due

If you’re expecting a refund from your 2013 Taxes, you won’t face any IRS late fees. You should keep in mind that you won’t be able to claim your 2013 Refund forever. The deadline to claim a 2013 refund is April 15, 2017.

If instead, you have tax due, you should definitely know that it’s a terrible idea to avoid filing your late 2013 taxes just because you’re afraid of the late fees. (more…)

Do I Need 2013 Tax Forms to File My 2013 Taxes?

Thursday, January 15th, 2015

Need to File 2013 Taxes now? No need to fill out  2013 Tax Forms, PriorTax will do that for you.

If you still need to file 2013 taxes, you’ll be happy to hear you won’t need to track down the 2013 tax forms…Phew.

Instead of wasting time filling out complicated 2013 tax forms, you can file your 2013 taxes online with PriorTax!

How To File 2013 Taxes Now

Although the 2014 Tax Season ended on October 15, 2014 for 2013 Taxes, you’ll still be able to prepare your 2013 Tax Return online with PriorTax. That’s right, absolutely no tax forms necessary!

Follow these steps to (finally) file your late 2013 tax return;

  1. Gather together your 2013 Tax Documents and Information
  2. Create an Account for the 2013 Tax Year on PriorTax
  3. Enter your tax information
  4. Pay and Submit
  5. Once your 2013 Tax Return is available for download, print it out.
  6. Sign and Mail the Tax Return to the IRS
  7. Sit back, relax and wait for Your Refund!

Since the tax season for e-filing 2013 tax returns has ended, you’ll need to paper file your 2013 Tax Return. In other words, don’t stop at step #4. Remember to sign and mail your return!

2013 Tax Tables

Keep in mind that the 2014 Tax Rates won’t apply to your 2013 Tax Return. If you can’t remember what tax bracket you fall into, here’s a 2013 Tax Table to refer to; (more…)

How To File 2013 Taxes Late If You Missed October 15 Deadline

Thursday, November 20th, 2014

You can File 2013 Taxes Late with PriorTax.

If you planned on filing your 2013 taxes by the October 15, 2014 deadline but never got around to it, don’t panic.

You can no longer e-file a 2013 tax return, but you’ll still be able to  file 2013 taxes late with PriorTax. Thanks to the 2013 tax software, you won’t waste hours doing taxes.

File your late 2013 taxes sooner rather than later. The IRS late fees increase by the day.

The longer you wait to file your 2013 taxes, the more you’ll end up handing over to the IRS in late penalties.

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 late, 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 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;

  1. complete a 2013 tax form on your own
  2. pay an expensive accountant to do it for you 
  3. 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).

Don’t Wait- File Your 2013 Taxes Today with PriorTax

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 

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.

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! 

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

The IRS began accepting e-filed 2014 tax returns on January 20, 2015. E-File 2014 Taxes Today with PriorTax!

Unlike the previous years, the e-file season began “on time” this year. In fact, as of January 20, you can e-file your 2014 Tax Return.

Last tax season, the first day to e-file wasn’t until January 31!

With PriorTax, you can e-file your 2014 Tax Return and receive your refund within 21 days!

How to File Your 2014 Taxes

Electronically filing your 2014 tax return is safer, easier and MUCH faster than paper filing.  If you’re using an online tax site like PriorTax, E-Filing your 2014 Taxes will be hassle free. Just follow these three steps:

  1. Create a PriorTax Account: If you’re new to PriorTax, create an account for 2014. (If you’re returning to PriorTax, use your USER ID to Sign In to the 2014 Tax Year)
  2. Enter Your Tax Information: With your tax forms in hand (Form W-2, 1099, etc), enter your 2014 information into the PriorTax application
  3. Pay and Submit: You’ll be able to see your refund or tax due total. Once you’re ready to file, enter your payment information and submit!

Afterwards, you can sit back and relax. Once your 2014 Tax Return is accepted by the IRS, you’ll receive your refund within 21 days! Keep in mind that having your refund direct deposited means you’ll receive your tax refund much faster than you choosing to have the IRS send you a refund via check.

E-File Your 2014 Tax Return with PriorTax!

Why wait until the last day of the tax season (April 15, 2015) to file your 2014 Taxes when you can get it out of the way today?

Create an account today and get it over with.

If you still need to get caught up on your late 2013 taxes before getting started on your 2014 tax return, you can do so with PriorTax.

Photo via Markus Spiske on Flickr

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…)