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How To File 2010 Taxes in 2015

It’s 2015- Four years ago today thousands of 2010 tax returns were being filed.

If your 2010 tax return wasn’t one of the returns being filed in 2011, you should still file as soon as possible. Let’s take a deeper look.

There’s a Three Year Statute of Limitations for Tax Refunds

Thanks to the three year statute of limitations, April 15, 2014 was the last day to claim your 2010 tax refund. After the deadline the IRS stopped issuing 2010 refunds.

Nervous about filing a late 2010 tax return? If you were expecting a 2010 tax refund, you won’t have to face any late penalties or interest. However, if you weren’t expected to claim a refund for 2010 taxes, you should expect to pay penalties and interest. Not to mention, you should file your 2010 as soon as possible, considering the penalties will continue to increase.

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What’s the Difference Between E-Filing and Paper Filing?

Last year, roughly 113 million people e-filed their federal returns during the tax season. By the end of this year’s tax season, that number will be even larger.

Although e-filing is the most popular way to file, some still wish to paper file their returns. Others, don’t have a choice and are required to paper file. Whether you want or need to paper file, you’ll first have to prepare your tax return(s). With RapidTax, you can prepare your return anytime.

E-Filing in 2014

Want to receive your refund as soon as possible? E-filing is the way to go, and much faster than paper filing. Electronically submitting your tax return is faster than paper filing. The IRS has stated “9 out of 10 e-file tax refunds would be processed within 21 days or less.”

Paper Filing in 2014

Although the majority of filers elect to e-file their tax return, there are the outliers. Some simply prefer taking the responsibility of mailing their tax return over filing online. Others, are required to paper file. The latter group not eligible to e-file include those without income to report (no AGI), those filing prior year tax returns, etc.

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