Aside from the confusion it will cause, using the wrong instructions may cause you to underpay or overpay the amount of tax you actually owe. Since the tax law changes from year to year, it's important that you use the instructions applicable for the tax year you are filing a return for. Step 4: Complete tax formsįill out the forms you need according to the instructions for those forms. Don't make the mistake of using current year tax forms or you may end up preparing the return again. You can easily access prior year tax forms on the TurboTax website or by contacting the IRS. Your past-due returns must be filed on the original tax forms. Obtain the correct forms and instructions for the specific tax year. You need the names and Social Security numbers for each dependent you claim. You can also reduce your tax by claiming deductions and credits for any dependents you were eligible to claim in the prior years. If you don't have this, you can always claim the standard deduction for each of those years. If you plan on itemizing deductions, you need to obtain whatever documentation you have that supports each deduction. Just because you are filing your return late doesn't mean you forfeit the deductions you could have taken. Step 2: Determine deductions to reduce taxable income However, if your goal is to stop penalties and interest from accruing, you can always estimate your income and make a tax payment before receiving a copy of your 1099 or W-2. If you sold any capital assets in those years, such as stocks, you need to report this income as well. If you are missing a W-2 and cannot obtain a copy from your employer, you can request a substitute from the IRS by filing an IRS Form 4852, which you can find on the TurboTax website. You'll need your prior W-2s and 1099s for those years. Gather as much information as you can about your income for the years you need to file. Your obligation to file these returns never goes away, but catching up may be easier than you think. If you are one of them, you are probably racking up interest and penalties on back taxes every month you are late.
Many taxpayers fail to file a return even when required to do so. Scroll down to the bottom of the screen and on the section Your tax returns & documents click on Show.The IRS requires you to file a tax return in each year that your income is greater than your standard deduction if you are not the dependent to another taxpayer.
You can also get free transcripts of your federal return from the IRS - įor a fee of $50 you can get a complete federal tax return from the IRS by completing Form 4506. Click on the Year and Click on Download/print return (PDF) Scroll down to the bottom of the screen and on the section Your tax returns & documents click on Show. To access your prior year online tax returns sign onto the TurboTax website with the userID you used to create the account. See this TurboTax support FAQ for when access expires.
See this TurboTax support FAQ for accessing prior year tax returns. Complete the next screen to pay by credit card and click Continue. The next screen will show a review of your Fees, click on Continue. On the next screen just click on the Continue button. On the next page, to pay by credit card, click Pay Now. Then click on Print, save or preview this year's return. To pay the TurboTax online account fees by credit card, without completing the 2017 return at this time, click on Tax Tools on the left side of the online program screen.
If you did not pay for the one of the 2016 online editions of either Plus, Deluxe, Premier or Self-Employed you will need to start a 2017 tax return using the online Free editon and create the account with the exact same user ID you used to create the prior year online account - Īfter starting the tax return with the Free edition you will need to upgrade to the Plus edition and pay for the Plus edition ($29.99) so you can access all the prior year online tax returns through October 2019.