Tag: e-file

Posts Tagged ‘e-file’

Previous Years Taxes Electronically Online

Posted by admin on July 8, 2022
Last modified: July 11, 2022

How to file previous years taxes online?

You can file your previous years taxes and tax returns with PriorTax for up to three years after you are due. Simply sign in to your account or create a new one to get started. Then, click the “tax year” tab at the center of the top main menu on the home page. Select the year you want to create, then click Start Now. From there, you will input income and expense information for the year you are filing.

You can choose to e-file an electronic return for up to 3 prior years with PriorTax, or you will have to print out and mail a hard copy of your form. This is because the IRS does not support electronic filing of previous years returns. When you submit your previous years taxes using PriorTax, you will receive the proper forms and instructions for the particular year you are filing.

previous years taxes
previous years taxes

How many years can you e-file back previous years taxes electronically? 

You can send your returns electronically for three years at PriorTax. That means that, in 2023, you could file a tax return for 2022 using PriorTax, and also be able to file your taxes from 2019, 2020, and 2021. Then, you can use paper filing for additional back taxes if needed.

You can usually find forms for earlier years on the IRS’s web site. However, the IRS generally does not examine returns more than six years late. In other words, your last six years worth of tax returns are generally the only ones that will be considered for audit. You can learn more about how to prepare a past-year return using PriorTax here.

Can I still get my previous years taxes to refund if I’m filing back prior taxes?

Yes, as long as you filed your return within three years after your original filing date. This deadline applies even for tax credits such as the Earned Income Tax Credit (EITC). Tax credits and deductions can greatly reduce your tax burden, so it is in your best interest to file during this three-year window to receive your earned tax credits and refund. If you have a previous-year return you are still due, you can start today with PriorTax, for free.

What if I don’t have receipts or records for previous years taxes?

Many employers maintain electronic records of employees W-2s, so it is possible you can obtain copies of your earnings information on the Internet. You may also see what forms your employer has filed with the IRS by asking for a tax transcript. You can download a copy of your prior years transcript from the IRS’s website. If you do, you can ask clients if they can supply records about what they paid you. And look at credit card statements or bank statements to see proof of expenses.

What else do you need to you when filing previous years taxes online?

If you want information from your previous years tax return, use Get Transcripts to request your return or bill transcript. In addition, if you have lost any of your tax documents from the past 10 years, you may request a copy from the IRS by filing form 4506-T, Requesting a Tax Return Transcript.

To file a tax return with the past returns, you will need your W-2s or 1099 forms that you received in those tax years to report your income.

Find that you made a mistake or forgot to include an income, a deduction, or another credit on your original return. You will have to file Form IL-1040-X, an amended individual income tax return. If you want to file your IL-1040 via MyTax Illinois, you must use your account to do so. Suppose you are self-employed and are not filing federal income taxes. In that case, any self-employment income you make is not reported to Social Security, and you will not get credit for Social Security retirement or disability benefits.

For example, Maine Revenue Service is available for filing an individual income tax return (Form 1040ME), including a credit to help pay property taxes like in Maine. This is the self-service option, purchasing tax preparation software, either at a retail store or online, preparing your return, and pressing submit for electronic filing. You may use a tax preparer, software approved by the state of Oregon, or free electronic filing services.

See if you qualify for filing previous years taxes with PriorTax

If you have used PriorTax in the past, you already know how to prepare and file your taxes online. The IRS Free File program can give you online tax software from a number of tax prep companies, including PriorTax.

If you do not qualify for online filing options, you can still electronically file your returns using PriorTax. You can also e-file using approved commercially available software programs or have an authorized tax professional prepare and file your return. If you had a tax professional prepare your return, you likely authorized that person to e-file for you.

Be sure the e-filing supports the forms you wish to file. Please be sure that the company providing the software supports all the forms and schedules you will need to electronically file your individual income tax return.

Under this arrangement, taxpayers may file federal income tax returns. Taxpayers may e-file either through their own computer or a tax preparer, an approved electronic return originator (ERO). While many taxpayers still mail their returns, e-filing, typically using an online tax preparation service, is becoming increasingly popular. As a result, the IRS anticipates that this year, the number of individuals efile for taxes will increase to record levels.

To better verify taxpayer identities and to help detect refund scams, we are now asking for identification information to ensure individuals tax returns.

If you are due a refund due to a tax lien or estimated tax, you have until the 3 years after your due date for filing the return to claim the refund. If you cannot pay all the taxes due by the due date, just file your return and pay what you can. If you missed filing a return in 2021 to claim the missed stimulus payments – just the stimulus payments checks – you will need to re-file taxes, which cannot efile electronically after Oct. 15, 2022.

File any taxes you are owed, whether you can make the payment or not. If you cannot fulfill your filing requirements, you are not required to file any returns from prior years. However, if you filed your return solely for that tax, you might choose to file Schedule H on its own.

Within 24 hours of your filing, the IRS will mail the proof of receipt to the software company you used. Once completed, the Federal and State returns are signed using either the Federal PIN number (or Form EF in Oregon). Filing with PriorTax to efile the previous years taxes returns sends a confirmation message saying the Tax Office received and accepted your return.

Prepare and efile your Federal and State returns electronically with PriorTax before tax day, so you will not have to do the difficult work of calculating taxes and mailing the information through the mail. During any given current tax season or calendar year, an on-time return will be prepared and efile electronically for the prior calendar year.

FAQ for Child Tax Credit and Other Tips on Tax Filing

Posted by admin on June 16, 2022
Last modified: June 16, 2022

Each year, you are required to file a Federal Income Tax Return for the prior calendar year on or before Tax Day. Whether you are required to file certain tax will depend on a number of factors, including your total income, filing status, age, child tax credit and whether or not you are dependent on another person’s federal income tax return. We’ve prepared a list of answers for commonly asked questions. PriorTax is the best place for easy and simple filing with our e-filing available with the help of our tax experts always standing by to assist you on the other line.

Who can you claim as a dependent and how to claim child tax credit on your taxes? 

If they meet certain criteria, you may be able to claim a dependent on your taxes for child tax credit. This might include a family member, a foster child, or an adopted child. Generally, the dependent must be a United States citizen, resident, or national. They must also be single or married, filing separately. Additionally, you must be the only one claiming for them for the child tax credit on your return.

In general, you will not have to file a tax return unless you earn income from sources inside the U.S. For the U.S., you typically do not have to file a return if you make less than $12,000 a year unless you paid a portion of the state’s income taxes upfront and wish to claim the refund.

Yes, the Federal Government requires every NRA that earns U.S.-source income to file U.S. tax returns, no matter how much revenue is earned or how much liability there is. Any income is taxable unless the law specifically exempts it, and any taxable income must be reported on the tax return. When you itemize, you reduce taxable income by the cost of certain expenses deductible under U.S. tax law. Tax credits reduce tax liabilities by one factor, and tax deductions lower your taxable income.

To get more taxes taken out over the course of a year so that you owe less when you file, you may want to lower your exemption. In addition, you can deduct interest on your student loans, as long as you fit specific income criteria, along with interest on a home mortgage, state and local taxes, and others.

Again when claiming Child Tax Credit on on your taxes, dependents are typically family members, but could also include foster children or adopted children. To claim someone as a dependent for child tax credit, they must be a United States citizen, resident, or national. You must also be the only one claiming them on your return.

child tax credit
child tax credit

Besides about Child Tax Credit.. If you’re wondering which tax form to use, read on for a brief guide.

Depending on your situation, you may need to file IRS Form 1040, Schedule C, Schedule B, or Schedule SE.

Form 1040 is individuals’ standard income tax form to report their income and expenses. You’ll need to use Schedule C to report your business income and expenses if you’re a freelancer, contractor, or self-employed person. Meanwhile, Schedule B is used to report interest and dividends of $1,500 or more; any amount less than $1,500 can be reported on Form 1040. Finally, if you pay self-employment taxes, you’ll need to fill out Schedule SE in order to calculate how much tax you owe.

What is a 1099? 

1099 forms are used to report income from sources other than employment. This includes income from self-employment, interest, dividends, rents, royalties, and other miscellaneous sources. You will receive a 1099 statement in the mail, just as a W-2 form for employment income.

How does Short-term disability benefits work?

Short-term disability benefits are taxable and subject to earned income, Social Security, and Medicare taxes. Amounts of commuter benefits A commuter benefit is not subject to income, Social Security, Medicare, state, and city taxes. Pension contributions are not subject to federal income taxes but state, city, Social Security, and Medicare taxes.

How to File Taxes on Earned Income such as W-2

Earned income, such as your wages, is taxed differently since you pay Social Security taxes, Medicare taxes, and state and federal income taxes on earned income. You file federal, state, and city income taxes on the lowest wage amount reported on your W-2, which is shown in boxes 1, 16, and 18. As an example, the New York state income tax instructions instruct an income tax payer to report wages as they appear on their W-2 in Box 1 and then add the amounts together to come up with their taxable wage amount for the New York State/City.

If you are an employee and receive wages subject to U.S. income tax withholding, you must usually file on or before the 15th day of the 4th month following the tax year. A real estate owner or the owner’s authorized agent must file necessary applications before May 1 of the tax year. State law automatically places a tax lien on all taxed properties on January 1 each year to assure payment of taxes.

When does the additional $300 unemployment benefit begin?

Posted by Manisha Hansraj on August 25, 2020
Last modified: August 25, 2020
$300 unemployment benefit

Jobless Americans are worrying about their unemployment benefits.

Since the extra $600 weekly benefit disappeared, their income is significantly less. Those who are out of work depend on their unemployment income to pay their bills.

Recently, President Donald Trump issued a measure for $400 per week to aid Americans.

However, instead, it’s an additional $300 unemployment benefit. States should provide the extra $100, but it’s up to them to distribute this.

Eligibility

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How does the Coronavirus Stimulus Check Work? (FAQ’s)

Posted by Manisha Hansraj on April 7, 2020
Last modified: April 15, 2020
stimulus check

The IRS has approved an economic stimulus package due to the spread of the Coronavirus (COVID-19).

A $2 trillion economic plan was passed by the Senate to combat the affects of COVID-19 on Americans. This stimulus plan includes payments to individuals, the self-employed, unemployment coverage, and more.

Here are some common questions about the coronavirus stimulus checks.

Do I have to apply for the stimulus check?

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How to File Your 2019 Taxes

Posted by Manisha Hansraj on January 13, 2020
Last modified: June 24, 2020
2019 tax return

The 2020 tax season starts on January 27, 2020. January kicks off the new year and with a new year, comes a new tax season. Get a fresh start by finding out the new tax changes for your 2019 tax return.

Additionally, check out some tax reminders below.

Tax dates to remember

It’s important to set a reminder whether it’s your phone or calendar.

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Did You Miss The 2018 Tax Deadline?

Posted by Manisha Hansraj on October 14, 2019
Last modified: October 23, 2019
missed 2018 tax deadline

Time waits for no one, especially the tax season.

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.

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How to File Your 2017 Taxes

Posted by Manisha Hansraj on May 31, 2019
Last modified: July 27, 2020

2017 taxes

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.

Can I still claim a refund?

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What is a 1098-T Form?

Posted by Manisha Hansraj on February 27, 2019
Last modified: March 7, 2022
1098-t

Unfortunately, education isn’t free for some students.

If you’re a college student, parent, guardian or anyone paying out-of-pocket for tuition, fees, and required course materials needed for enrollment, you will receive a Form 1098-T. This tuition statement form reports all of your transactions, which means the payments you make to your school.

What does a 1098-T statement look like?

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April 15, 2019 is the Last Day to Claim your 2015 Refund!

Posted by Manisha Hansraj on October 30, 2018
Last modified: April 23, 2019

2015 refund

Running late on your refund?

Refunds come and go when it comes to taxes. Luckily, for you, you can still claim the 2015 refund that you’ve been delaying. Just remember, you have three years within the original due date of your 2015 tax return to claim your refund.

This is due to the IRS Statute of Limitations, which limits taxpayers in claiming a prior year refund. After the three year deadline, your refund expires and goes to the IRS.

Don’t wait. Get the money you’re entitled to.

Will I be able to e-file my taxes?

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Can I pay my federal taxes with a credit card?

Posted by Manisha Hansraj on September 10, 2018
Last modified: September 18, 2018

Can you pay federal taxes with credit card

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.

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