Tax News Blog

When is the Deadline to File Taxes for 2018?

Posted by Manisha Hansraj on September 19, 2018
Last modified: September 21, 2018

deadline to file taxes 2018

April 17, 2018 was the deadline for 2017 tax returns.

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 or you will be subject to penalties.

Read on to find out the steps you need to take in order to file your return.

Don’t wait to e-file your tax return.

Luckily, you have until October 15, 2018; the e-file and extension deadline to continue to file your return to the IRS. After this deadline, you cannot e-file your tax return since it will then become a prior year return. All prior year returns have to be paper-filed. In order to paper file a tax return, you are required to print, sign and mail your tax return to the IRS.

With Prior Tax, you can easily create an account for your tax year, enter your tax information and submit it to us in order to e-file your tax return.

File 2017 Taxes now

What if I didn’t pay taxes to the IRS?

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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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11 Tax Tips For Your Back-to-School Use!

Posted by Manisha Hansraj on August 21, 2018
Last modified: August 24, 2018

tax free week 2018

Education is expensive, so here’s some helpful tips!

Get your tax break from claiming your kids.

  1. Don’t forget to claim up to $1,000 for the Child Tax Credit.
    (Your child must be under 17, live more than half the year with you, a dependent on your tax return, be directly related to you, a U.S. citizen, national or resident alien)
  2. Claim the child and dependent care credit for child care expenses for your child under 13.
  3. You can claim the Earned Income Credit (EIC) depending on your income.
  4. The Adoption Tax Credit reduces your tax for expenses such as Court, attorney fees, travel and meal expenses. (You can also claim the Special Needs Credits for all relating expenses)
  5. Claim the Education Credit for education expenses if you’re paying for your child’s college education.

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What is the Estimated Tax Payment Schedule?

Posted by Manisha Hansraj on August 7, 2018
Last modified: August 28, 2018

tax payment schedule 2018

Did you think you missed a due date for an estimated tax payment?

Typically, if you receive a W-2, your taxes are automatically withheld. However, if you earn money from self-employment, interest, dividends, rents, and alimony you will have to make estimated tax payments. This ensures that you’re paying your taxes.

Read on to find out the estimated tax payment schedule for 2018.

Estimated Tax Payment Due Dates

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The Child Tax Credit & Additional Child Tax Credit Changes for 2018!

Posted by Manisha Hansraj on July 23, 2018
Last modified: July 23, 2018

child tax credit 2018

Let your kids treat you by giving you the tax break you deserve.

Typically, for the prior tax years, (including the tax year 2017) you can receive up to $1,000 per qualifying child for the Child Tax Credit (CTC). You may even get the Additional Child Tax Credit (ACTC) which is a refundable credit that you may receive if your CTC exceeds the total amount of income taxes you owe. However, you need an income of at least $3,000. It phases out for taxpayers with the AGI of $75,000 or greater and $110,000 for joint filers.

The good news is that the CTC and the ACTC increases for the next tax year.

Read on to find out the changes for 2018.

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April 17th, 2018 is the Last Day to Claim your 2014 Refund!

Posted by Manisha Hansraj on January 16, 2018
Last modified: August 2, 2018


Don’t delay your 2014 refund.

Your 2014 refund is waiting for you. Luckily, the IRS allows you to claim your refund due to their convenient Statute of Limitations. However, you have three years from the original tax deadline date to claim your tax refund. With that in mind, if you wait three years after the filing deadline, your refund will expire. On top of that, if you fail to claim your refund, the IRS will collect it and you will no longer be entitled to your refund.

That sounds like a waste, doesn’t it? Read to find out what you need to do in order to claim your 2014 tax refund.

Can I still E-file?

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Did You Miss The 2016 Tax Deadline?

Posted by admin on December 26, 2017
Last modified: September 14, 2018

Did you miss the 2016 tax deadline?

With the 2018 Tax Season less than a month away, 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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How do I Qualify for the Child Tax Credit?

Posted by Divya Hansraj on June 16, 2017
Last modified: June 6, 2018

Oh, the joys of having children!

Today, it is difficult for parenthood to have its rewards. Children want us to buy them the most expensive toys and clothing and that spending can sometimes feel fruitless. As with struggling to finish a marathon, we strive, hoping there will be a light at the end of the tunnel. Luckily the IRS understands this struggle and gives parents a little something back. The Child Tax Credit and the Additional Child Tax Credit serve as the cushioned shoe inserts that help us finish.

Child Tax Credit (CTC) Facts:

  • You must have a qualifying child.
  • You must have earned greater than $3000 of Income.
  • Each child can receive up to $1000.

 

What is a qualifying child?

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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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New Tax Plan: Trump’s Six Big Changes

Posted by admin on May 23, 2017
Last modified: May 31, 2017

Is Trump’s new tax plan making filing simpler, or is it really just a helping hand for the wealthy?

We’re reminded daily of the new guy in town…or office. Whether that reminder comes from seeing his face on a t-shirt or a protester’s sign outside your office window is a different story. Let’s put the opinions aside for a moment, shall we? If all goes according to Trump’s proposal, many changes will be taking place in the tax world. Here’s a breakdown of Trump’s new tax plan.

There will only be three tax brackets.

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