You can prepare your 2009 tax return online with PriorTax.
Once, a long time ago, 2009 tax returns were due on April 15, 2010.
If you’ve been putting off filing your 2009 taxes since that initial deadline, you may wonder why you should bother filing at all?
There are a couple of good reasons you should do it.
For one, the IRS has 10 years to collect on any tax you owe. For two, tax penalties for filing late increase by the day and, by now, they have really built up. The longer you wait, the worse the situation.
The good news is that you can still prepare your 2009 taxes online with PriorTax.
Will I Owe the IRS Late Penalties?
If you owe the IRS from the 2009 tax year, plan on paying late penalties. These late fees include:
- Failure-to-file: 5% of your tax due total for each month your return is filed late, up to 25%
- Failure-to-pay: ½ of 1% of your unpaid taxes for each month or part of a month left unpaid (this amount is waived if you’re already facing the failure-to-file penalty)
The penalty for filing late can be ten times worse than the penalty for paying late. At the very least, file your 2009 return as soon as possible.
Then, contact the IRS to arrange to pay your tax bill. They can set up an installment plan that will work for you. (more…)