what do i need to file my 2017 tax return

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How Do I File Returns for Back Taxes?

Updated for Tax Twelvemonth 2021 • October 16, 2021 08:xvi AM

OVERVIEW

When would someone file dorsum taxes, and what does this process typically look similar?

how to file back tax return

Should you file back taxes? Information technology may non be too late to file a previous year's taxation return to pay what you owe or merits your refund. Learn more most why ane may choose to file back taxes and how to get-go this process.

Why you should file back taxes

Filing back tax returns you oasis't completed could help you lot practice one of the following:

1. Claim a refund

1 practical reason to file a back tax render is to see if the IRS owes y'all a tax refund. While many have federal income taxes withheld from their paychecks, sometimes as well much coin is withheld. In these cases, filing a revenue enhancement return could result in a tax refund that puts more coin in your bank account.

2. Stop late filing and payment penalties and interest

Filing a tax return on fourth dimension is key to avoid penalties, even if y'all can't pay the balance y'all owe. If you don't pay your rest, you may have to pay an additional five% of the unpaid tax yous were required to written report for each month your tax return is late, up to five months. Minimum punishment limits also apply.

The IRS assesses some other penalisation for a failure to pay your taxes owed. If you do file on time, just y'all can't pay what you owe in full by the due appointment, you'll be fined an additional 0.5% of the amount of the tax not paid on fourth dimension for each month or part of a month you are late. These fees will accrue until your balance is paid in total or the penalty reaches 25%, whichever comes first.

The IRS too charges interest on overdue taxes. Dissimilar penalties, interest does not stop accruing later a particular period goes past.

3. Take revenue enhancement returns for loan applications

Sure types of loans, such as mortgages and business loans, may require you to have documentation of your income as part of the blessing process. Filing your tax returns before you use for a loan helps the procedure go smoother.

4. Pay Social Security taxes to authorize for benefits

Cocky-employed individuals have to pay Social Security taxes through their estimated tax payments and private income tax returns. Past filing a return and paying the associated taxes, yous report your income so that you may authorize for Social Security retirement and disability benefits when you need them.

How belatedly can you file?

The IRS prefers that you file all back taxation returns for years you have not yet filed. That said, the IRS usually only requires you to file the terminal half dozen years of tax returns to exist considered in good standing. However, the IRS can get back more than half dozen years in certain instances.

Unfortunately, there is a limit on how far back you can file a tax return to claim tax refunds and tax credits. This IRS merely allows y'all to claim refunds and taxation credits within three years of the revenue enhancement return'south original due engagement. By not filing within 3 years of the due date, you might stop up owing even more taxes because you lot tin no longer merits the lucrative tax credits you might have otherwise qualified for.

How to file tax returns for previous years

Filing a taxation return for a previous year isn't every bit hard as you may think, but it does require a few steps.

ane. Gather data

The first step is gathering any information from the year you desire to file a tax return for. Pull together your W-2s, 1099s, and data for any deductions or credits you may qualify for. Look on the taxation forms you gather for the year of the revenue enhancement return you're filing to make sure you apply the correct ones.

2. Asking tax documents from the IRS

Finding documents from previous years may be challenging for some. Thankfully, the IRS has a form you lot can fill out to request any tax data they have on file for you for a given year. Form 4506-T allows you to request a transcript of your tax return information, even if you haven't filed a tax return. You tin can asking information from the last 10 taxation years.

The IRS will ship the information it has on tape, including data found on forms such as West-2s, 1099s, and 1098s. It won't have data about deductions and credits y'all may qualify for, though, so you'll still need to do some work on your own.

3. Consummate and file your tax render

Once you take all the forms yous demand, be sure to apply the taxation forms from the year you lot're filing. For instance, you must utilise 2018 taxation render forms to file a 2018 tax return. Yous can observe these documents on the IRS website. Patience is central when filling out a taxation return past mitt. And thankfully, you can also file revenue enhancement returns from previous years using TurboTax.

Select the twelvemonth you desire to file a return for to become started.
Then, input your tax information and TurboTax will properly fill out the tax forms.
You will have to print out and post in your tax return for previous years as eastward-filing prior year returns is not an option through TurboTax.

Remember, with TurboTax, nosotros'll inquire you unproblematic questions about your life and assist you fill out all the right tax forms. With TurboTax y'all tin can be confident your taxes are done correct, from simple to circuitous tax returns, no matter what your situation.

All you need to know is yourself

Answer unproblematic questions most your life and TurboTax Free Edition will take care of the residuum.

For uncomplicated tax returns only

Existent revenue enhancement experts on need with TurboTax Live Basic

Get unlimited advice and an expert final review. Washed right, guaranteed.

For simple tax returns only

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The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized revenue enhancement, investment, legal, or other business organization and professional person advice. Earlier taking any action, you should always seek the aid of a professional person who knows your detail situation for advice on taxes, your investments, the law, or any other business concern and professional person matters that affect yous and/or your business.

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Source: https://turbotax.intuit.com/tax-tips/irs-tax-return/how-do-i-file-back-tax-returns/L535BxMms

what do i need to file my 2017 tax return