So, you ran a little late and forgot to file a prior-year tax return?
Are you wondering if you can file a tax return all the way back, say, 6 years? The answer is yes, you can! This should not be confused with e-filing. The IRS has electronic filing available through October of the year your tax return is due. After that, taxpayers must paper file their returns; no exceptions. The good news? Paper filing your tax return is pretty much just as easy as e-filing. Instead of submitting your tax return online, you’ll need to print and sign it. Then, all you have to do it mail it to the IRS. Easy, right? You can file prior-year taxes dating back to 2005 with PriorTax.
File prior year taxes for 2005-2017 on PriorTax
By law, the IRS may assess penalties to taxpayers for both failing to file a tax return and for failing to pay taxes they owe by the deadline. Therefore, if you have not filed taxes from 2005, 2006, etc. it’s best do so now (or as soon as possible) on PriorTax.
How many years back can you get a tax refund?
The IRS Statute of Limitations allows you three years from the filing deadline to file your prior year return and claim your refund. For example, the last day to claim your tax refund for the 2016 tax year is April 15, 2020. The original tax deadline was April 15, 2017, therefore, you have three years from that date to claim your refund.
Keep in mind that they also have the same amount of time to audit you and up to ten years to collect any unpaid tax. Be advised, the IRS is allowed to hold your refund or take a portion of your refund to pay any past debts.
How to get started filing prior-year tax returns now
- Gather together W-2 or 1099 forms for those tax years.
- If eligible for deductions and credits, gather receipts and records proving eligibility to claim.
- Create an account on PriorTax for the selected year and get started! PriorTax can help you file previous tax returns dating back to 2005!
Steps to take after submitting
Once you have submitted the tax return for 2005 or any year after with PriorTax, there are a few points to remember;
- If you owe additional income tax for any prior year, include the largest payment amount possible, in order to reduce interest charges.
- Monthly interest charges on unpaid tax penalties do not stop accruing until the tax is paid.
- After the IRS receives the tax return you filed, you will receive a notice of the penalty and charges.
Missing tax documents from previous years?
Maybe you lost them. Maybe the dog ate them. Whatever your situation may be, you can request a copy any missing tax documents from the IRS of for the past ten years. To do so;
- Fill out Form 4506-T, Request for Transcript of Tax Return (to request W-2, 1099 and 1098 forms). This may take the IRS up to 45 days to process.
Keep in mind, the IRS does not provide your state withholding information. Therefore, in order to obtain that information, you will need to contact your state department of revenue directly.
Chances are filing your late taxes has been on the back burner for a while.
If the tax return is for 2005 or after, why not get it out of the way now? PriorTax will help you file late tax returns and you’ll be able to cross something off your “To Do” list!