We’ve entered December and the season for filing 2014 taxes looms just ahead.
But what if you have dawdled too long with your 2013 income tax return? Can you still file by computer?
Well, that depends on your type of return.
Before Nov. 23, an individual taxpayer still could have submitted a federal 1040 electronically – although he/she probably would have to pay a late penalty along with any taxes owed. Now, the IRS has closed the e-filing window for those 2013 returns.
However, businesses, partnerships, etc., still can catch up. They can e-file 2013 income tax returns before Dec. 26.
Why the deadlines? The Internal Revenue Service needs to update its computers to process 2014 tax forms, which will start arriving in January.
Check with us at EricJohn Ltd. or your tax advisor for more details about filing times, future or past!