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Do Unemployed File Taxes?

If you’re unemployed, plan to file a 2014 tax return. Unemployment benefits are taxable.

“Do I pay taxes on unemployment benefits?”, “Do I file taxes if I’m unemployed”. If you’re unemployed, these questions may sound familiar.

The answer to both is yes.

The bottom line is this; you’ll need to file a  tax return and report all income received, including any unemployment benefits received.

Being under unemployment in 2014 doesn’t mean your free from filing a tax return. You’ll need to report your unemployment compensation sooner or later. It will be to your advantage to get it out of the way on time, during the 2015 tax season.

How to Report Unemployment Benefits on a Tax Return

Any income you receive during the tax year counts as income that you need to report on your tax return. Above all, the IRS considers unemployment benefits as income that you must report on a tax return. Continue reading “Do Unemployed File Taxes?”

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How to Find E-File PIN From Last Year

Did you forget your E-File Personal Identification Number (PIN)? We’re here to help.

When it’s time to file taxes, most of us can’t seem to remember our e-file personal identification number (PIN). This leaves us all screaming “Help-How can I Find my E-File Pin?”.

RapidTax is here to help you find that e-file PIN. That way, filing your 2014 taxes on RapidTax can be a completely smooth, painless task!

How To Obtain Your E-File PIN

  1. Look at a copy of your 2013 Tax Return: Contact whoever prepared your tax return last year for a copy of your tax return. If you filed on Rapid, simply Sign-In to your 2013 account to download it.
  2. Your e-file PIN will be listed on the return (probably towards the bottom of the last page). This is the PIN you’ll need to e-file a 2014 tax return.
  3. Your 2013 AGI (adjusted gross income) will also be listed on the 2013 tax return. You can use this number on your 2014 taxes in place of a PIN. If you paper filed your 2013 return, you’ll need to use your 2013 AGI.

OR 

  • Go to the IRS PIN Website: You can use the IRS PIN Website to obtain your PIN.
  • Call the IRS: Rather than using the IRS website, you can call the IRS directly at 1-800-829-1040 to obtain your PIN.

How To Use a E-File PIN If You Never Filed Taxes Before:

The IRS gives the option to either enter your PIN or AGI listed on your 2013 return, however, if you never filed before, you don’t have either. If this is the case, we recommend Paper Filing rather than e-filing your 2014 Tax Return. You can still prepare your 2014 return on RapidTax, the only difference is that you will have to mail your return to the IRS rather than e-filing it.

E-File Your 2014 Tax Return Today 

Once you’ve tracked down your e-file pin you can start your 2014 Tax Return. To get started,  create an account. If you have any questions along the way, the RapidTax team is available via phone, chat and email support.

Keep in mind, if you create a new 5-digit PIN while filing your 2014 taxes this year, be sure to write it down. You’ll need it when e-filing next year.

Photo via opensource.com on Flickr