2010 Tax Return
The original due date for 2010 tax returns was April 18, 2011, but you can still file a late tax return.
The last day to file a 2010 tax return on time was April 18, 2011. If you extended your 2010 tax return, the deadline was pushed out October 17,2011. If you owe taxes for the year 2010 and still have yet to file, you need to file as soon as possible to avoid further penalties and accruing interest.
Fail-To-File and Fail-To-Pay Penalties
If you fail to file your tax return, 5% of your owed 2010 tax is added to your total debt to the IRS for every month that you do not file or pay your taxes. Over time, this can grow to 50% of your debt. If you have filed your 2010 taxes, but have no fully paid what you owe, understand that 0.5% of your owed tax will be added each month to your total debt.
Paying What You Owe
The IRS has several payment plans and methods of payment to make it easy as possible for you to pay off your owed taxes. Contact us to see what types of options are available to you to get that debt taken care of as quickly as possible.
IRS Substitute Returns and Levies
If your taxes are not paid or your tax returns are not filed within a certain time frame, the IRS could fill out a substitute return for you. These substitute returns often have the least favorable taxable outcome for you–meaning your return will be much less and the amount of taxes you owe could be much larger than anticipated. The IRS could also place a levy on your wages, bank account, or home.
Get Help with Filing Late Tax Returns
Contact us today to begin filing your late 2010 tax return. If you are missing past W-2s and other financial documents, we can request those documents for you and help you on your way. Don’t carry the burden of worrying about late tax returns around any longer and begin filing your 2010 taxes today.