Category: Late Taxes | Blog

oday-22Filing late taxes with RapidTax is hassle-free. We’ll help you maximize your tax refund and reduce any penalty fees that you have acquired from the IRS. Let us assist you prepare your tax returns dating back to 2005. Find out if you owe the IRS or can still claim your tax refund.

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Archive for the ‘Late Taxes | Blog’ Category

8 Things You Need to Know For the 2018 Tax Deadline!

Posted by Manisha Hansraj on October 2, 2018
Last modified: October 2, 2018

tax deadline 2018

October 15 is in less than 2 weeks…did you file your 2017 taxes?

Taxpayers tend to wait until the last minute to file their 2017 tax returns. However, if you’re one of these taxpayers who missed the April 17 tax deadline, here are some helpful tax information that you should know.

1. October 15, 2018 is the e-file and extension deadline.

After October 15, 2018, are required to paper-file your 2017 tax returns since e-file is no longer available.

2. If you have a refund waiting for you, you are not subject to penalties for filing late.

Just make sure you file your return within three years of the original due date based on the IRS statute of limitations.

3. You cannot file an extension and your tax return is considered late.

This means if you did not file an extension by April 17, you can no longer do so.

4. If you have a tax due to the IRS and did not file or pay your taxes by April 17, you will be subject to penalties.

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Am I Still Required to File A Past State Tax Return?

Posted by Manisha Hansraj on September 24, 2018
Last modified: September 25, 2018

states with no income tax

Don’t worry about filing a past state tax return if you belong to one of these as your resident state.

The U.S. states that do not have income taxes are Alaska, Florida, Nevada, South Dakota, Texas, Washington, and Wyoming. However, just because you don’t need to pay income tax, doesn’t mean a state is any cheaper to live in. In order to maintain state revenue, states with no income tax rely on other uses of taxes such as estate, property, sales, excise, gift taxes and more.

For example, here are a few ways each state maintains their state revenue:

  • Alaska depends on estate, excise, gift and severance taxes
  • Florida depends on property, sales, and corporate income taxes
  • Nevada; being a tourist attraction, depends on fees, gambling taxes, and high sales taxes
  • South Dakota taxes property, alcoholic beverages and cigarettes
  • Texas depends on high use, sales and property taxes
  • Washington depends on business, occupation and sales taxes
  • Wyoming depends on taxing property and businesses

Unlike the seven states above, New Hampshire and Tennessee do not have personal income taxes but still taxes specific types of income. New Hampshire doesn’t have sales tax, or inheritance tax but it does tax interest and dividends. Tennessee does not have estate and inheritance tax but taxes dividends and interest due to its Hall Tax.

Have you forgotten to file a state return or two?

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Can you still get tax free back to school shopping?

Posted by Manisha Hansraj on August 23, 2018
Last modified: August 24, 2018

Are you a little late on back to school shopping?

There’s some good news for you. States have been cutting you some slack when shopping for items such as computers, notebooks, clothes and even some home goods (for college dorms) for the month of August.

However, it depends on what each state determines which items are tax-free. There also may be a price cap per item to qualify for no sales tax. Let’s take a look at which states still offer tax-free shopping. (more…)

It’s Back-to-School & Time For Your Refund!

Posted by Manisha Hansraj on August 21, 2018
Last modified: August 29, 2018

back to school

It’s back to school time, so here are some tips for tax time!

Attention parents:

  1. Get up to $1,000 for the Child Tax Credit if your child is under 17, resided for more than half the year with you, a dependent on your tax return, your relative, a U.S. citizen, national or resident alien.
  2. If your child is under 13, claim the child and dependent care credit for child care expenses.
  3. Depending on your income, you can claim the Earned Income Credit (EIC).
  4. The Adoption Tax Credit reduces your tax for fees related to court, attorney, travel and meal expenses. You can also claim the Special Needs Credits for all relating child’s special needs expenses.
  5. If you’re paying for your child’s college education, claim the Education Credit for tuition, mandatory supplies and related fees.

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What is the Tax Refund Schedule for 2018?

Posted by Manisha Hansraj on July 27, 2018
Last modified: October 12, 2018

tax refund schedule 2018

Do you feel like you’re playing the waiting game?

You might be wondering how long it takes for you to receive your refund. Typically, the IRS issues tax refunds in less than 21 days as long as there are no discrepancies.

If you are due a refund, it may take longer depending on the situation or time your financial institution takes to direct deposit or mail it to you.

Here are some situations that may prevent you from receiving your refund:

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Can I Still File a Tax Extension for 2018?

Posted by Manisha Hansraj on July 11, 2018
Last modified: August 29, 2018

tax extension 2018
Don’t wait until the last minute to file your 2017 tax return.

April 18th has passed for the 2018 tax season deadline. However, you can still e-file your tax return until October 15, 2018; the e-file and tax extension deadline. Even if the 2018 tax deadline has passed, those with refunds can still e-file their tax return without any penalties.

On the other hand, individuals with a tax due may end up facing interest, late filing penalties, and failure-to-pay penalties. We advise that you file your tax return as soon as possible so you receive your refund faster.

Can I still file a tax extension?

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Did You Miss The 2018 Tax Season Deadline?

Posted by Manisha Hansraj on May 10, 2018
Last modified: October 16, 2018

tax deadline 2018

Some taxpayers are still racing against the clock.

The tax deadlines have quickly passed and some Americans have yet to file their tax return. If you’re one of many taxpayers who have questions about how to file a late 2017 tax return, keep reading!

Can I still e-file my 2017 tax return?

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Get $5 OFF your 2017 Tax Return using your Rapidtax coupon!

Posted by Manisha Hansraj on April 17, 2018
Last modified: August 14, 2018


Did you file your 2017 tax return?

The 2017 tax deadline is finally here. As a matter of fact, most Americans are rushing to find their income statements to file their tax returns. Now, whether you’re internet surfing to find a do it yourself tax preparation site or a loyal Rapidtax user, we’re here to make filing your 2017 tax return less stressful. After entering your tax information, enter the coupon code you see below during your checkout process.

Read on to find out how to use Rapidtax to get $5 OFF your 2017 tax return now! (more…)

Tax Reform: Tax Tips for Lowering Rates for 2018 Taxes!

Posted by Manisha Hansraj on March 2, 2018
Last modified: August 29, 2018

tax reform
Be ready for the new tax reform.

Get your to do list out and take some action to reduce your 2018 taxes now! Although taxpayers might be hurriedly finishing their 2017 tax returns before the e-file deadline, some tax deductions will not be there for the next tax season due to the Tax Cuts and Jobs Act. (TCJA) Ultimately, the design of the new tax reform is to lower taxes for individuals of all income groups until 2025. Bear in mind that along with that idea, many individuals who itemize their deductions are worried about the tax turmoil they’ll face when filing with each capped or eliminated deduction.

Did you know that can take steps in 2018 to decrease your taxes for next tax season? Here’s a few tax tips for you.

Rack up your medical receipts.

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Tax Tips: How to Choose a Tax Preparer

Posted by Manisha Hansraj on January 23, 2018
Last modified: January 24, 2018


Are you stuck on choosing a Tax Preparer?

“One size fits all,” doesn’t apply when choosing your tax preparer. Take a second to imagine this scenario. John is a college student and it’s time to file his taxes for the very first time. Nerve wracking, isn’t it? He has one W-2 statement and a myriad of education expenses that surely affected his bank account. He’s unsure of where to begin and if he should simply file online or visit a tax accountant.

Whether you’re new to taxes, like John, or an experienced taxpayer, filing your tax return can be a demanding process. On top of that, you might be wondering if you should file your tax return online or go to a local tax accountant. Here are some tax tips to consider when making that decision.

Online filing may be right for you.

During tax season, convenience, quality and time are both important. By filing your taxes online, you can complete a self-prepared return by opting to e-file your current year tax return or paper file your prior year return right from the comfort of your own home. Tax preparation sites require you to have: (more…)