Five Steps For Filing A Back Tax Return (Infographic)

Around 10 millions taxpayers file their tax returns late or not at all every year, according to data gathered by Turbotax (Intuit). And, every year the IRS holds more than 1 billion in refunds that are waiting to be claimed. That is big. Turbotax made a nice infographic titled “Falling Behind: How Back Taxes Save Taxpayers”.

 

 

11 Most Popular Reasons for Late Or Not Filing Tax Return

Here are 11 most popular reasons for filing late or not filing at all:

Most Popular Reasons for Filing Late Tax Return

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5 Steps For Filing A Back Tax Return

It is not uncommon to fall behinda in filing tax returns, but to not file it at all is not a good move. In fact, IRS charge Americans a 5% to 25% penalty each month for late filing. Try to not late in filing. If you’re somehow still late, you’d better to keep trying to file it rather than not at all. “It’s never too late to file your back tax return,” Turbotax says. Here are five easy steps you can take:

Five Steps To File a Back Tax Return

Do not wait for IRS’s penalties. File your back tax return now!

Author: Lie Dharma Putra

Putra is a CPA. His last position, in the corporate world, was a controller for a corporation in Costa Mesa, CA. After spending 15 years as a nine-to-five employee, he decided to serve more companies, families and even individuals, as a trusted business advisor. He blogs about accounting, finance and tax, during his spare time, and helps accounting students (around the globe) to understand the subject matter easier , faster. Follow him on twitter @LieDharmaPutra or add him to your circle at Google Plus Lie+

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