2014 Tax Return

The original due date for 2014 tax returns was April 17, 2015, but you can still file a late tax return.

2014 Tax Return

Worried that you can’t file your 2014 tax return years later? Well, you’re in luck: You can still file a tax return for 2014. Even though the deadline for receiving your 2014 tax refund has passed (April 17th, 2015) and you didn’t file for the extension due date (October 15th, 2015), remember that filing is still worth your time and money. Just failing to file for a single year of taxes can result in fines and penalties worth thousands of dollars.

Can I still e-file my 2014 Tax Return?

No, you cannot e-file your 2014 tax return as it is past April 17th, 2014. Contact us and we can help you get started on filing your tax return today.

Fines and Penalties

If you do not file a tax return each year, the penalties and interest on what you owe and penalties stack up over time--and the IRS does keep track of it. The best method to avoid these penalties is to pay your taxes on time, but if you miss the tax deadline, it is important to pay your taxes as quickly as possible to avoid your unpaid tax debt to multiply into a larger owed sum. The smallest amount you may charged for late filing is either $135 or 100 percent of the unpaid tax: whichever is smaller. There are two other kinds of penalties that will affect you in terms of filing late tax return: failure-to-file and failure-to-pay.

Failure-to-file and Failure-to-pay

You should still file your 2014 taxes, even if you cannot pay them. The interest and penalties for not filing can greatly multiply what you owe. Not filing a tax return is usually far more expensive than for not paying. If you have filed your 2014 taxes, but have not paid what you owe, understand that you will be charged an additional 0.5% each month that it is left unpaid. The late penalty payment can grow up to 25% of your unpaid tax debt. If you file late and expect a refund, the failure-to-pay penalty will not apply to you.

File Before the IRS Files for You

Yes, if you do not file tax returns for a long period of time the IRS can file a substitute return for you. It most likely won’t benefit you either. You will receive the least favorable tax outcome and may owe more to the IRS than with an original return and receive less of a refund if you’re expecting one. If you receive notice that the IRS has filed a substitute return, you have 90 days to negate the IRS’s substitute return by either submitting an original tax return, agreeing to the substitute return, or providing a statement on why you don’t need to file. After 90 days, you will need to request audit reconsideration.

Avoid Liens and Levies

If you continue to not pay your taxes or fail to file, the IRS may need to levy your wages and bank account or use a lien to receive payment from you. A lien is a legal claim against your property to secure payment of tax debt, while a levy takes your property to satisfy the debt. File your missing returns as soon as possible to avoid repeat or stacked offenses.

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Didn't file taxes in 2014? No worries, you don't need to wait any longer, Private Tax Solutions can resolve your 2014 tax troubles. Call (208) 227-8335, fill out Private Tax Solutions Service Request Form, or begin receiving tax help now.