Tag: IRS

Find out more information about the IRS with these posts from RapidTax

Posts Tagged ‘IRS’

How to E-File 2014 Taxes in 2017

Posted by Michelle O'Brien on December 14, 2016
Last modified: December 19, 2016

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…)

W-2 or W-4 Form: How Do They Affect My Taxes?

Posted by Michelle O'Brien on May 5, 2015
Last modified: October 6, 2016

Are you confused on what a W-4 form is? How about a W-2?

You’re not alone.

The truth is, most of us don’t look at these complicated IRS forms on a daily basis, so when we do, we’re pretty lost!  However, it’s important to know the difference between a W-4  and W-2 as both impact  how much tax is taken from your paycheck and how big your refund may be when you file your taxes.

When do I need to look at these IRS forms?

W-4: You’ll receive a blank W-4 when you start a new job. As a new employee, you’ll be required to fill out this form.

W-2: Each year, at the end of January, you’ll receive a W-2 from each of your employers. You’ll refer to this form when preparing your tax return. (more…)

What are the 2015 Refund Cycle Dates?

Posted by Michelle O'Brien on September 26, 2014
Last modified: March 21, 2017

E-File Your Tax Return with RapidTax and Receive your Refund Within 21 Days!

In the past, the IRS released a refund cycle chart. This chart allowed tax filers to know exactly when they would receive their tax refund. Sounds helpful, right?

Unfortunately, the IRS no longer posts the refund cycle chart. Luckily, there are charts out there which give a pretty accurate prediction on when you’ll get your refund.

You may want to know how long it will take to receive your tax refund once you file your 2014 tax return.  Luckily, we’ve provided a refund cycle chart below.

Keep in mind however, these dates are NOT definite. They are only expected dates, based off of previous year trends. (more…)

IRS Accepting E-Filed Tax Returns

Posted by Emma Lawrence on January 29, 2014
Last modified: March 21, 2017

E-File Your 2014 Tax Return today!

The 2015 tax season began on January 20, 2015 and will end on April 15, 2015.

You can e-file your 2014 taxes with RapidTax throughout the 2015 tax season.

How to Get Your Refund Early in 2015 

Want your refund as quick as possible in 2015? We don’t blame you. Follow these steps to receive your refund as quickly as possible;

1. Get Organized: Gather together all your tax information, tax forms, etc. that you’ll need to prepare your tax return. You’ll avoid wasting hours of your time frantically searching for them last minute.

2. Create a RapidTax account: At the start of January, RapidTax will have the 2014 Tax Application aviable for users to enter their 2014 Tax Return information. With that said, create an account on RapidTax at the start of the new year and start entering your tax information.

3. Choose Direct Deposit: If you opt to have your tax refund direct deposited into your account than you’ll probably receive it within 21 days. Avoid having your refund mailed to you via an IRS check, it will take much longer.

4. E-File: Electronically filing is MUCH faster than paper filing. Thanks to sites like RapidTax, you can e-file your taxes with ease, avoid waiting for your tax return and refund to be processed via paper filing (and of course, you’ll be able to skip a trip to the post office).

5. Avoid Mistakes: If you mis-report information on your tax return, the IRS may reject your return or take longer processing your return. Either scenario will cause a delay in getting your refund. To avoid this from happening, double check the information you’ve entered before submitting your tax return.

E-File with RapidTax!

To get started on your 2014 taxes, create an account on RapidTax.

As always, our tax team is standing by to help you. Reach out by phone, email or chat with any questions you may have.

1/29/2014: Photo via Caden Crawford on Flickr

IRS Refund Problems Cause Delays

Posted by Michelle O'Brien on February 26, 2013
Last modified: October 6, 2016

Many taxpayers are frustrated by IRS delays and a lack of information from Where’s My Refund

Going into this tax season we knew that refunds were going to be delayed. Right off the bat the IRS increased the time frame within which most people can expect their refund. Instead of the old 8-15 days it suddenly became “under 21 days.”

Then the fiscal cliff nuttiness in Congress pushed the start of the season back two weeks to January 30th. These two changes alone meant that lots of people would be getting their money 2-3 weeks later than usual.

But as the tax season has progressed, the IRS has run into even more problems. Before the start of the season this year the IRS made some changes to its system to try to cut down on instances of tax fraud and identity theft, which affected over a million taxpayers last year. This is a huge relief to anyone who’s had their Social Security number or refund stolen.

Once the season started, however, the IRS discovered some problems with this new system that required a little fine-tuning. These adjustments caused many returns to be delayed for an additional week. (more…)

Can I File My 2009 Taxes Online in 2015?

Posted by Michelle O'Brien on January 24, 2013
Last modified: October 6, 2016

The last chance to claim a 2009 Tax Refund Was April 15, 2013, but you can still file 2009 Taxes with RapidTax.

Yes, you can still file your 2009 taxes. However,  the IRS has a statute of limitations that only allows you to get a refund for three years after the original due date of a return.

In other words, you can file your late 2009 tax return, but you won’t be able to claim your 2009 refund. The last day to file and get a 2009 refund was April 15, 2013. After this date, the government stopped issuing 2009 refunds, even though you’re technically still required to file a 2009 return.

If you weren’t expecting a 2009 refund and instead, have tax due, you’ll want to file your 2009 taxes as soon as possible.


2013 IRS Calendar and Deadlines

Posted by Michelle O'Brien on January 23, 2013
Last modified: October 6, 2016

These IRS filing deadlines determine when you need to file your 2012 return and pay certain 2013 taxes

January 2013

  • January 10 – Employees who received $20 or more in tips for December 2012 must report them to their employer.
  • January 15 – If you are not paying your 2012 taxes through withholding, you must pay the fourth and final installment of your 2012 estimated tax. However, you don’t have to pay this installment by January 15th if you file your 2012 return by January 31st.
  • January 30 – The IRS starts processing both e-filed and paper 2012 returns.
  • January 31 – If you are required to make estimated tax payments – but did not pay your last installment by January 15th – you can file your 2012 return and pay your tax liability by January 31st to avoid penalties for late payment of the last installment. (more…)

IRS Moves Start of Tax Season Forward to January 30th!

Posted by Michelle O'Brien on January 8, 2013
Last modified: August 8, 2013

It’s official: January 30th will be the first day to e-file taxes in 2013!

Well, this was hardly a surprise. The IRS  announced Tuesday that it was kicking forward the opening of the 2013 tax season to Wednesday, Jan 30th. That’s a full eight days later than the previously announced January 22nd marker, which was itself set five days past the Jan 17 date on which the 2012 season began.

It would be cheap, at best, to blame the Taxman. After the protracted end of year mess in Washington, the agency could hardly have been expected to have all its t’s crossed and its many i’s dotted by mid-month. For anyone in need of a reminder, legislation to pull the nation off the fiscal cliff was only passed on the second day of the year!

“We have worked hard to open tax season as soon as possible,”  said IRS Acting Commissioner Steven Miller in a statement issued Tuesday.. “This date ensures we have the time we need to update and test our processing systems,” he added.

So when does tax season start in 2013? The old 22nd date, on which e-filing was set to begin, left open the option of paper filing your tax return hours after the din of the fireworks had died down, which is to say on Jan 1st. This will not be possible this time around.

Instead, both e-file and paper filing will have to wait for the end of January’s opening bell, further reducing the incentive to paper file. In the IRS’s estimate, more than 80 million taxpayers filed online last year. This is a number the agency’s brass is intent on increasing.

Starting Jan 30, the large majority of taxpayers, or roughly 120 million households, will be able to file their tax return, whether they go online or put pencil to paper. The rest, notably those claiming residential energy and some business credits, will have to wait longer, until late February and possibly into March.

Photo via Scott S on Flickr.

How to Prevent Tax Identity Theft

Posted by Michelle O'Brien on January 2, 2013
Last modified: August 9, 2013

Last year tax identity theft affected 1.1 million taxpayers. Use these tips to prevent someone from stealing your identity and filing a fraudulent return

Every year millions of taxpayers look forward to tax season as a time when a nice fat tax refund gets injected into bank accounts decimated by the spending sprees of the holiday season.

But for an increasingly large group of tax filers, tax season can be a scary time. That’s because every year more and more people become the victims of tax identity theft – their names and Social Security numbers stolen and fraudulent returns are filed under their names.

Not only do criminals now possess these unfortunate filers’ personal information – with which they can do any number of dastardly things – but these people also have their tax returns rejected by the IRS because every Social Security number can only be used once. They then have to print out their return out, fill out a lot of extra paperwork, and mail it all to the IRS, which slows the process down considerably. Many have to wait months, even upwards of a year, before they get their refunds.

In 2008 there were 51,700 cases of identity theft-related tax fraud. In 2011 that number was over 1.1 million. So even if you’ve never had your identity stolen, you still need to be vigilant about taking preventive measures. Don’t think it can’t happen to you. Following these steps will save you a lot of hassle and heartache: (more…)

How to File Taxes Early

Posted by Michelle O'Brien on December 27, 2012
Last modified: October 6, 2016

Learn how to file taxes early so that your return can get to the front of the line and you can receive your refund as quickly as possible.

Wallet hard-hit by the holidays? Join the crowd. The only thing more depressing than picking mutilated wrapping paper off the floor is taking a look at your credit card statement. Yikes!

Thankfully, Uncle Sam is here to save the day. Soon after you ring in the New Year it will be time to take account of the old by filing a 2012 tax return. And for many people, this means a sizable tax refund. If every year you pay for your holiday spending with the tax refund you expect to receive in January, you’re hardly alone. But that means it’s imperative you get your refund as quickly as possible.

Unfortunately, this year IRS e-file doesn’t start until January 22nd, a week later than in recent years. But you can get a jump on the start of the season by learning how to file taxes early. In fact on RapidTax you can prepare your return as early as January 3rd.

“What’s the point of preparing my return before I can file it?” you may ask. Well, filing early has several advantages. (more…)