Apply for a Late Tax Filing Extension from the IRS

Posted on February 16, 2012 by admin

There are a number of good reasons you should late file your federal taxes, whether you foresee missing this year’s deadline or omitted to file your taxes from previous years.

Foremost, you could be due a refund, in which case you would get money without any penalties. But even if you owe the IRS money, you could limit the amount of the penalties for filing late. Either way, it’s wise to file.

So, how do you go about filing late? At Latetax.com, we can help you do just that, and to get you started we first outline a few important things you need to pay attention to.

First, plan ahead. We advise that you start thinking about the tax process well before the April deadline.  The sooner you grasp your present tax situation,  the sooner you can take the necessary steps to deal with it. Continue reading →

Share
Posted in Uncategorized | Tagged | Leave a comment

Late Tax Filing of Federal Taxes Could Still Mean a Refund

Posted on December 23, 2011 by admin

Okay, so you missed the deadline to file taxes. Now you’re wondering why you should even bother with a late filing of federal taxes. If the IRS isn’t on your case about it by now, why put yourself through all the hassle?

The fact of the matter is that there are a ton of good reasons to get started on filing late tax returns. First of all, even if your return is late, the news may not be all bad. If you’re due a refund for withholding or estimated taxes paid, you could still get your money. The only way to claim the refund you’re entitled to is to file a late tax return.

“Is it too late to file my taxes?” you may be asking. Or, more specifically, “How late can I file taxes and still get my refund?” If you are due a refund, you have to claim it within 3 years or else you risk forfeiting it completely. The same goes for tax credits such as the Earned Income Credit (EIC). This means that you’ve got 3 years to file a late return and still get your refund. So if you haven’t filed your 2010, 2009, or 2008 taxes, you’ve still got time to file and get money back. The next deadline is April 15, 2012. If you fail to file 2008 taxes by then, you can say goodbye to any refund. The deadline for claiming a refund with a late return for 2009 is April 15, 2013, and so on. Continue reading →

Share
Posted in Uncategorized | Tagged , , , , , | Leave a comment

File Federal Income Tax Late Even without an Extension

Posted on December 9, 2011 by admin

Obviously, submitting an extension is the best case scenario when it comes to filing federal income tax late, but if the April tax deadline took you by surprise, or you haven’t filed a return from several years ago, then you will just have to incur penalties and go about late tax filing.

Generally, you are responsible for filing late tax returns for the past year as well as the previous six if any of those are un-filed as well, though the IRS could always ask for even older returns. You file a late tax return just as you would a normal tax return. The only major difference is that the deadline for filing online is six months after the original due date, when everyone who applied for an extension is required to file. If your tax return is later than this you’ll have to file the old-fashioned way, with a physical paper copy of your return. Continue reading →

Share
Posted in Uncategorized | Tagged , , , , , | Leave a comment