Tax tip: Paying taxes for a prior year
If you owe taxes, a delay in filing may result in a failure-to-file penalty and interest charges. The longer you delay, the larger these charges grow.
If you are due a refund and don't file you could lose your refund. There is no penalty for failure to file if you are due a refund. However, you cannot obtain a refund without filing a tax return. If you wait too long to file, you may risk losing the refund altogether. The deadline for claiming refunds is generally three years after the return due date.
There are several reasons taxpayers don't file their taxes. Perhaps you didn't know you were required to file. Maybe, you just keep putting it off or simply forgot. Whatever the reason, it's best to file your return as soon as possible. If you need help, even with a late return, the IRS is ready to assist you.
Here are some steps for filing your prior year return:
1. Gather prior year tax return information. You will need Social Security numbers, income information and records for expenses, deductions and credits.
2. Determine if you have a filing requirement. Whether or not you must file a tax return will depend upon a number of factors, including your filing status, age, and gross income. Individuals who are entitled to the Earned Income Tax Credit must file their return to claim the credit even if they are not otherwise required to file.
3. Get forms and publications. Make sure you get the forms and publications for the year of the tax return you are filing.
4. Prepare your tax return. Complete, sign and date your tax return. Be sure to attach any required schedules and forms.
5. Mail the completed and signed prior year return to the correct address. Mailing a return to an incorrect address can delay the processing of the return.
If your income was $42,000 or less, your local Taxpayer Assistance Center may be able to assist you in preparing your prior year return. You can locate your nearest center at http://www/irs.gov/localcontacts/index.html. For more information on how to file a tax return for a prior year, visit the IRS Web site at IRS.gov or call the IRS Tax Help Line for Individuals at 800-829-1040.
Most Popular StoriesMost Popular StoriesMore>>
SPOKANE, Wash. - A family's dream home turned into a house of horrors after a man breaks in, destroying everything inside. It was a day the Gunther family had been waiting for, to move into their new home. But when she checked on the place during her lunch break Thursday, Brittanie immediately knew something was wrong. All of the work her family had done to get their new home ready was gone. "I don't even know what's really>>
SPOKANE VALLEY, Wash.- Spokane Valley Sheriff's Deputies say they're looking for 13-year-old Jordan Ballou, who has been missing since 3pm Friday. Deputies say she was last seen in the 6300 block of E. 4th Ave in Spokane Valley.>>
Navy issues updated statement on 'irresponsible and immature act' after obscene images drawn in skies over Okanogan Co.
OMAK, Wash. - I can picture the Austin Powers bit now. The people of Omak looking up at the sky and seeing a giant (Fill in the blank innuendo here) just like in 1999's Austin Powers: The Spy Who Shagged Me. If you're unfamiliar, I'll save you a Google search. A simple, yet effectively funny joke. Except the U.S. Navy doesn't see humor in the real-life version at all.>>
OMAK, Wash. - A man in Okanogan County is facing arson and murder charges after emergency responders found a body inside a home that had been set on fire. Officials say 27-year-old Jared Nathaniel Fudge now faces first degree murder and arson charges, with more charges possible. A witness spotted Fudge running from the scene. He was later located and questioned by police. Officials say they found the body after they were called>>
KHQ.COM - Cards Against Humanity is known for unique stunts around this time of year. In years past, in an effort to combat Black Friday, they've had people send them $5 and literally sent nothing in return. Just like they said they would. They've also mailed people poop in a box. 30,000 bought it. They've even raised $100,000 to dig a giant hole in the ground.>>
SPOKANE VALLEY, Wash. - Spokane Valley Major Crimes Detectives have made a third arrest in the homicide investigation of Bret Snow. 37-year-old Cheryl L. Sutton was arrested on charges of Leading Organized Crime and Criminal Conspiracy to Commit 1st Degree Murder and 1st Degree Kidnapping in connection to Snow's disappearance.>>