There is a time and place for everything…including your 2014 tax return.
The 2015 tax season was that time and place. Although you’re a little late, you can still file your 2014 taxes. You just won’t be able to electronically file (e-file) it.
IRS e-file dates and deadlines
Each December, the IRS comes out with the e-file start dates and deadlines for that year’s upcoming tax season. For 2014 returns, those dates fell between January and October of 2015. The IRS promptly closes their e-filing system after that.
Can I still submit my 2014 taxes to the IRS?
Yes! You can and you should. You’ll need to sign and mail your tax return to the IRS instead of just submitting it online like you may be used to. The preparation process that you typically follow can remain the same. Not sure where to prepare your return? We can help you with that on RapidTax! It’s quick and easy; even for late tax returns. All you need to do is create an account with a unique username and password. Then begin entering your tax information into our user-friendly application. It’s even free to try with several pricing packages to fit your tax situation once you enter all of your information.
Can I still claim a 2014 tax refund?
That’s a yes! The IRS has a Statute of Limitations in place that allows taxpayers three years from the original due date to claim a refund. That means you can claim your 2014 IRS refund until April 2018. Keep in mind that it will take a bit longer than usual to receive that refund in the mail since it is a prior year return now. It can take the IRS about 6 weeks to process an accurately completed late tax return.
What penalties am I facing for a 2014 tax due amount?
There are currently two penalties when it comes to late filing a tax return with the IRS. (more…)