Tag: failure-to-pay

Posts Tagged ‘failure-to-pay’

When is the Deadline to File Taxes for 2018?

Posted by Manisha Hansraj on September 19, 2018
Last modified: October 16, 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?

You can no longer e-file your 2017 return since October 15, 2018; the e-file and extension deadline has passed. The 2017 tax year now becomes 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 download, print, sign and mail 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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Can I File My 2009 Taxes Online?

Posted by admin on October 20, 2016
Last modified: November 2, 2016

You can prepare your 2009 tax return online with PriorTax. 

Once, a long time ago, 2009 tax returns were due on April 15, 2010.

If you’ve been putting off filing your 2009 taxes since that initial deadline, you may wonder why you should bother filing at all?

There are a couple of good reasons you should do it.

For one, the IRS has 10 years to collect on any tax you owe. For two, tax penalties for filing late increase by the day and, by now, they have really built up. The longer you wait, the worse the situation.

The good news is that you can still prepare your 2009 taxes online with PriorTax.

Will I Owe the IRS Late Penalties?

If you owe the IRS from the 2009 tax year, plan on paying late penalties. These late fees include:

  • Failure-to-file: 5% of your tax due total for each month your return is filed late, up to 25%
  • Failure-to-pay: ½ of 1% of your unpaid taxes for each month or part of a month left unpaid (this amount is waived if you’re already facing the failure-to-file penalty)

The penalty for filing late can be ten times worse than the penalty for paying late. At the very least, file your 2009 return as soon as possible.

Then, contact the IRS to arrange to pay your tax bill. They can set up an installment plan that will work for you. (more…)

Filing a 2015 Tax Return in 2017

Posted by Michelle O'Brien on March 18, 2016
Last modified: January 13, 2017

Forget to file your 2015 tax return? Let’s get you caught up.

Sometimes, procrastination gets the best of us and we fall behind. It happens. Most procrastination-fueled situations can be resolved. There’s no exception when it comes to filing your late 2015 taxes.

Can I still file a 2015 tax return in 2017?

April 18th, 2016 marks the tax filing deadline for 2015 taxes . The good news? You can still prepare your tax return after the deadline and mail it to the IRS. The bad news? If you owe additional tax for 2015, you may be faced with penalty fees. If you forgot to file by the deadline, you will be responsible for the failure-to-file penalty. If you didn’t pay the IRS on time, you will be liable for the failure-to-pay penalty. These will be explained further in a few.

Can I prepare my 2015 taxes online?

You missed the filing deadline. That doesn’t mean you have to scrape the bottom of the barrel when it comes to your tax preparation. You also won’t need to dip into your savings to afford it. You can still prepare your taxes online which happens to be inexpensive and pretty easy.

All you need to do is follow these 5 steps. (more…)

Can I Still E-File 2014 Taxes after April 15?

Posted by admin on March 18, 2015
Last modified: December 16, 2016

You can file or you can rack up IRS penalty fees; the choice is yours!

The very last day to E-file 2014 tax returns was October 15, 2015. If you’re reading this after the October 15th deadline, you can still prepare your return online. You’ll just need to paper-file it instead of E-filing it. That being said, without a tax extension, your 2014 tax return will be considered late if it is filed after April 15th, 2015.

If you’re expecting a refund from your 2014 taxes, you won’t be penalized for filing late. However, if you have tax due, you’ll face IRS late penalties for filing after April 15th.

Beware of IRS late penalties!

Plan on filing after the April 15th deadline? If you have tax due, you could end up with a tax bill costing you an arm and a leg.

IRS late fees include the following:

  • Failure-to-file penalty: the penalty for filing late is 5% of the additional taxes owed amount for every month (or fraction thereof) that your return is late, up to a maximum of 25%

  • Failure-to-pay penalty: late payment penalty is 0.5% (1/2 of 1 percent) of the additional tax owed amount for every month (or fraction thereof) the owed tax remains unpaid, up to a maximum of 25% (more…)