If you didn’t file a tax return as yet, we advise that you do it as soon as possible. If you missed the 2021 tax deadline, the good news is you can still file.
Here’s some helpful information before getting started.
Getting a refund?
If you’re due a refund from the IRS, you’re in luck. You are not subject to the tax deadline nor will you be penalized. Technically, you have three years to file from the original tax deadline to claim your refund as well. For example, you have until April 15, 2021 to claim your 2020 tax refund. However, in order to e-file your tax return, you must file by October 15, 2021.
Do you owe taxes?
In the case that you didn’t request a tax extension from the IRS, you must take action by filing and paying now. As a reminder, you must have paid your taxes by May 17 to avoid penalties; with an IRS extension or not.
Life is never put on hold, even for tax season. Before you know it, the April and even October deadline fly right by. Then, you forget to file it next tax season and then the season after that.
However, although the deadlines go by, you should still file your prior year tax return. Here are some reasons why.
1. You’re getting a refund
One of the most important things to remember is that the IRS does not wait for anyone. According to the IRS, you have a three-year statute of limitations for refunds; meaning you can only claim tax refunds going back three tax years within the original April due date.
For example, if you want to claim a 2016 tax refund, your last chance to claim it is April 15, 2020. This means you must file by that date to get your refund. Therefore, any tax years going back from 2016 cannot be claimed.
Check out our helpful tax calculators to determine your refund for relevant tax years.
With the year ending soon, another tax season is on the way. If you’re stuck trying to figure out what the next steps are for the missed 2018 tax deadline, keep reading.
Can you still e-file your 2018 tax return?
Although April 15, 2019, was the original tax deadline, you can still e-file your tax return until October 15, 2019. After this date, you will be required to paper-file your tax return. This means that you must to print, sign, and mail your tax return to the IRS and your state department of revenue.
Did you miss the tax deadline for your 2017 taxes?
Although you’re late, you can still file your late 2017 taxes. However, you won’t be able to e-file your tax return.
Dates to remember
The 2018 tax season ran from January 29, 2018, to October 15, 2018. The official tax deadline was April 17, 2018, due to April 15 falling on a weekend and Emancipation Day following after. The e-file and extension deadline was October 15, 2018; therefore, you are now required to mail your return to the IRS.
Set an alarm on your phone, write on your notepad or put an “x” on your calendar.
Like most taxpayers, you may be rushing to claim your prior year refunds. If you remember that you have a 2016 refund waiting for you, you’re not too late.
Read below to find out if you can still claim your refund.
Can I still claim my refund?
Luckily, because of the IRS Statute of Limitations for prior year refunds. You have three years from the original tax deadline of your return to claim your refund. Otherwise, your refund expires and goes straight to the IRS. That being said, the original tax deadline for 2016 taxes was April 18, 2017, due to April 15th falling on the weekend and Emancipation Day right after.
Tax season is a stressful time for some taxpayers. However, knowing each tax deadline will give you a heads up so you know how to stay on top of your game.
For all the 2019 tax deadlines that are left, take a look at the list of due dates below.
April 15, 2019
Individual Income Taxes deadline
Last day to file and pay if you owe taxes to the IRS without accumulating penalties
The new tax season brought in a lot of changes, and your job expenses are one of them.
If you’ve noticed on your tax returns that you can’t deduct your W-2 job expenses for 2018, you’re partially correct. Unfortunately, not everyone can claim their out-of-pocket job expenses.
Here’s the breakdown.
Eligibility
The new tax laws have narrowed down on who claims their W-2 job expenses, mainly by their occupation.
You can only deduct your job expenses if you’re one of the following: (more…)
In the worst case scenario, the IRS rejects your tax return.
Someone else claimed my dependent. What should I do? Luckily, the IRS gives you options in case you’re stuck in this situation.
Unfortunately, the IRS cannot disclose who claimed your dependent. Typically it’s either the other parent, their child claimed themselves as an exemption on their individual tax return, another member of the household such as the grandparent, or any other person that lived with the child for a portion of the year.
What you need to do.
If you’re filing a current year return, you may receive a rejection due to your dependent’s social security number. In this case, you should double-check that you reported their SSN correctly.
If it is reported correctly, you will need to paper file your return; meaning you must print, sign and mail your return to the IRS. You cannot e-file it since the IRS will reject it again.
You may receive a CP87A Notice which notifies each party that if they incorrectly claimed the dependent, they need to file an amended tax form. If you can rightfully claim the dependent, you do not need to respond to this notice. In order to dispute the claim of your dependent, you will need to attach a cover letter(more…)
For taxpayers who are receiving a refund, there’s absolutely nothing to worry about! The IRS does not attach penalties to late returns that have refunds. On the other hand, if you had a tax due to the IRS, you must have paid your taxes to the IRS by the tax deadline which was April 17, 2018 or you will be subject to penalties.
Read on to find out the steps you need to take in order to file your return.
The IRS can’t directly accept credit card payments due to tax laws.
However, they can accept payments through a third-party processor. For example, online tax preparation companies are third-party processors since they are designated by a merchant to handle transactions for merchant acquiring banks. They can then assist you in making your credit card payment towards your tax bill to the IRS.
Here’s what you need to be prepared for when you plan on using the credit route.
There are no flat fees when using your credit card.
