Tag: late taxes

Posts Tagged ‘late taxes’

How To Get Caught Up on Late Taxes

Posted by admin on February 8, 2024
Last modified: February 12, 2024

Filing late tax returns for past years may seem daunting and impossible, but following a few simple steps can be accomplished with relative ease.

1. Your Income and Expense information

Commence the information-gathering process by assembling all pertinent data from the specific tax year you intend to file a tax return. Consolidate your W-2s, 1099s, and any documentation pertaining to potential tax deductions or tax credits that you may be eligible for. Verify the validity of the tax forms obtained to ensure that you select the appropriate ones for the tax return you are preparing to submit.

2. Request Any Missing Late Tax Documents From the IRS

When it comes to obtaining tax documents from the IRS, some people may need help locating records from previous years. However, a convenient solution is offered by the IRS: a form that allows you to request your tax information for a specific year.

If you are looking for a way to access your tax return information, regardless of whether you have filed your taxes or not, Form 4506-T is the perfect solution for you.

Regarding tax filing, it is important to note that the IRS will provide the information it has on file, which includes details found on various forms like W-2s, 1099s, and 1098s. However, it should be noted that the IRS may need to possess information about potential deductions and credits that you may be eligible for.

late tax

3. Complete and E-file your Late Tax Return

Ensure that you efficiently submit your tax return by completing and filing the necessary paperwork. It is crucial to use the tax forms that correspond to the year in which you are submitting your taxes; for example, if you are filing for the year 2020, make sure to use the appropriate 2020 tax return forms. If you are filing late taxes within the past 3 years, you will likely E-file your back taxes with PriorTax. Our dedicated Tax Professional will file your back taxes with you from start to finish. Also the IRS website offers these essential documents for easy access. Taking your time and exercising patience are vital aspects of completing a tax return manually.

When it comes to completing a tax return manually, having patience is crucial. Fortunately, individuals can also use PriorTax and their Dedicated Tax Professionals team to file tax returns from previous years for free.

To begin the process, simply choose the specific year for which you wish to file your tax return. Afterward, provide your tax details, and PriorTax will effectively complete the necessary forms on your behalf. Please note that for tax returns from previous years, you will need to print and mail them, but this can be much easier by E-Filing with PriorTax.

When you choose PriorTax’s free Dedicated Tax Professionals, a skilled local expert will be assigned to handle your taxes from start to finish, tailored specifically to your individual circumstances. Alternatively, you can opt for unlimited assistance and guidance from our team of tax experts as you navigate the process of doing your taxes with PriorTax, ensuring a comprehensive and seamless experience from beginning to end.

With the assistance of PriorTax, rest assured that you can confidently file your own late taxes and complete them accurately through our step-by-step guidance. Whether you choose to E-file electronically or by mail, we are committed to ensuring 100% accuracy and securing your maximum refund.

Summary

In case you have outstanding late tax obligations from previous years but still need to submit your tax returns, there is a way to minimize penalties and interest.

When it comes to filing your overdue taxes and making the necessary payments, you can unlock a world of benefits for your future. By ensuring that you have a solid record of your late tax returns, you’ll not only be eligible for Social Security retirement and disability benefits but also open the doors to receiving essential Medicare benefits when you require them.

How to Fill Out the 2021 W-4 Form

Posted by Manisha Hansraj on October 29, 2020
Last modified: October 29, 2020
2021 w-4 form

The W-4 form has been revamped by the IRS.

The IRS’ goal is to simplify the W-4 form to reflect a transparent withholding system. The 2021 W-4 form is still in it’s draft stages, but will most likely reflect the 2020 W-4.

Although the 2020 and 2021 W-4 forms appear different from previous forms, we’re here to break down the changes for you.

Say good-bye to allowances

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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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How are Charitable Deductions Affected by the TCJA?

Posted by Manisha Hansraj on November 27, 2018
Last modified: November 27, 2018

Generosity has its perks, or rather its tax benefits.

Keep in mind, taxpayers are able to easily itemize once they exceed their standard deduction. This typically happens by taxpayers claiming charitable donations along with any expenses they have. It then becomes greater than their standard deduction. However, the standard deduction is twice the amount for 2017.

Due to the Tax Cuts and Jobs Act (TCJA), taxpayers who itemize may face some difficulties next year.

Read on to find out what you can do to be prepared for next year!

“Bunching,” a word that people can’t stop talking about.

If you’re surfing the web for information on charitable donations, you might run into the term, “bunching.” It may be confusing, so we’re here to clear it up for you. (more…)

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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What do I do if someone else claimed my dependent?

Posted by Manisha Hansraj on October 16, 2018
Last modified: October 10, 2019

someone else claimed my dependent

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…)

When is the Deadline to File Taxes for 2018?

Posted by Manisha Hansraj on September 19, 2018
Last modified: November 28, 2018

deadline to file taxes 2018

Am I too late to file my 2017 taxes?

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.

Can I still E-file?

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How to File Your 2016 Taxes After The Tax Deadline

Posted by admin on December 26, 2017
Last modified: July 27, 2020

Did you miss the 2016 tax deadline?

With tax seasons coming and going, you probably have some catching up to do. Luckily, you can still file your 2016 tax return if you’re one of many taxpayers that are rushing to stay on top of a missed 2016 tax deadline. That being said, start raiding your rooms for all the receipts you need to finish your taxes. If you want to find out if you have a refund coming your way, utilize our 2016 tax calculator.

Read on to find out how to file your 2016 prior-year return.

Can I E-file my 2016 Tax Return?

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Unfiled tax returns have you drowning?

Posted by admin on June 6, 2017
Last modified: June 16, 2017

Overwhelmed With Prior Year Unfiled Tax Returns?

While most Americans finish or have finished their current year taxes, others have stacks of unfiled tax returns from previous years. You may feel swamped with the pressures of work and within a blink of an eye, you wake up to find an IRS notice in the mailbox. Let’s face it, life gets busy. Nevertheless, you have forgotten about those prior year tax returns, but the IRS hasn’t. Here are some common questions for those taxpayers who are stuck in the mud with unfiled tax returns:

Should I file my Unfiled tax returns?

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IRS Address to File a Late Tax Return

Posted by admin on December 15, 2016
Last modified: January 13, 2017

If you need to file a prior year tax return, you’ll have to mail it to the IRS…

Still need to get caught up on a prior year tax return? You’ll most likely need to paper file it. If this is the case, you’ll need the IRS address to send your return to.

You’ll be able to prepare any previous year tax return online, but you won’t be able to electronically file it. You’ll need to mail it to the IRS.

IRS address to file a late tax return

The address you’ll send your prior year tax return to will depend on what state you live in. Below, are five separate addresses on where to send a late tax return to. Please note that if you received a notice from the IRS with an alternate address, you should use that one.  (more…)