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Obamacare & Your 2014 Tax Return

You’ll be required to report your “health insurance status” on your 2014 Taxes

Obamacare aka the Affordable Care Act (ACA) was introduced by President Obama to increase the quality and affordability of health insurance.

Although the changes to government may seem confusing, RapidTax is here to help you through filing your 2014 taxes!  The questions below will help you get a better idea of what your tax situation will look like.

1. Did you have Health Insurance in 2014?

The Affordable Care Act will especially affect your 2014 Taxes if you didn’t have health insurance coverage throughout 2014.

You’re safe if you received coverage from one of the following sources;

If you don’t have coverage from one of the sources listed above, the only way you’ll avoid paying extra when filing is to fall within the list of qualified Exemptions. View the complete Exemptions list on the RapidTax blog!  Continue reading “Obamacare & Your 2014 Tax Return”

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How To File 2013 Taxes Late

You’ll no longer be able to e-file, but you can still file your 2013 tax return

The deadline to e-file a 2013 tax return was October 15, 2014.

If you haven’t yet filed your 2013 taxes, you’ll still be able to prepare your 2013 tax return online but you’ll need to mail it to the IRS rather than electronically filing.

With RapidTax, you can file 2013 taxes late. All you’ll have to do is enter your information and after your return is prepared, you’ll print and mail it to the IRS.

Whatever you do, don’t put off doing your 2013 taxes. The later you file, the more you’ll end up handing over to the IRS. Save your money, and the headaches and get it out of the way!

You can still get your 2013 tax refund

If you’re late filing 2013 taxes and expecting a tax refund, you’ll be happy to hear you can still collect your refund.

The IRS Statute of Limitations allows tax filers three years to collect a tax refund. That means, you have until April 15, 2017. After this date the IRS will no longer send out 2013 tax refund checks. Continue reading “How To File 2013 Taxes Late”

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Can I File My 2011 Taxes in 2015?

April 15, 2015 was the last day to file your 2011 taxes to claim your refund!

Yes, you can still file your 2011 tax return. Unfortunately, you can no longer claim your 2011 refund.

Thanks to the IRS statute of limitation, you only have three years from the original tax return due date to get your refund. Once the three years passes by, don’t expect to see a penny of your refund money.

If you still need to file your 2011 taxes & owe tax…

If you still need to file your 2011 taxes, you should do so as soon as possible. If you weren’t expecting a 2011 tax refund and instead have tax due, you should keep in mind that failure-to-file fees, failure-to-pay fees and interest increase by the day. The longer you wait, the more you’ll end up paying. Continue reading “Can I File My 2011 Taxes in 2015?”