6 Tips to Help You File Your 2013 Taxes by the October 15th Deadline

Tax Planning extensionfilers

The 2013 tax extension deadline is a about a month away on October 15th. Chances are if you missed the first April 15th tax deadline, you may be still procrastinating and will be rushing to make the final October 15th tax deadline. There’s no need to worry. If you start preparing now, and follow these 6 tips, you will be on your way to beat the tax deadline and avoid a late filing penalty.

1.  Gather Your Documents – Make sure you have your documents like W-2s, 1099s, receipts for expenses, mortgage interest, and your kids’ social security numbers in front of you when you sit down and file.

2.  Don’t Forget What You Did Last Year – Don’t forget that spring cleaning you did last year or other expenses may lead to a nice tax deduction. Taxpayers rushing to the deadline may forget they donated to charity, had job search expenses, or unreimbursed employee expenses.  Have receipts for these types of expenses ready when you sit down to do your taxes.

If you forget any expenses when you sit down to do your taxes, TurboTax automatically double-checks your tax return as you go, searching for every tax deduction and credit you’re eligible for.

3.  File Electronically – Save money and time by easily and accurately electronically filing your taxes online from the comfort of your own home.  Your information is sent electronically to the IRS and you will receive notification of receipt from the IRS.

4.  Review Information Entered – Make sure you double-check the names and social security numbers you entered.  Incorrect social security numbers will cause you to miss out on valuable tax deductions.

5.  Still File If You Owe – Even if you owe money, you will still need to file your taxes to avoid a late filing penalty, which is 5% of the unpaid taxes for each month your tax return is late, not to exceed 25% of unpaid taxes.

The IRS also created the Fresh Start Initiative to give taxpayers other options when they can’t pay all of their tax liability at tax time.  Under this initiative you may be able to set up an installment agreement with the IRS and pay for your tax liability monthly.

6.  Contact Our Credentialed Tax Experts if You Need Help – If you have any last minute tax questions don’t hesitate to contact our credentialed tax experts, who are CPAs and enrolled agents available via phone.  TurboTax is up to date with the latest tax laws and is here to answer your tax questions so you can beat the final 2013 tax deadline.

Already filed?  If you filed using TurboTax federal free edition, don’t forget to save a copy of your tax return for your records by October 15th.

 

Comments (12) Leave your comment

  1. I had Turbo Tax help me with my State & Federal Taxes in 2013. You helped get a refund in both! I intend to sign up again for 2014. When can I do that.?

    Hugh Brien

  2. Hi, I have and extension to Oct. 15th for the 2013 federal taxes. I have already filed my State taxes. Last year, turbo tax would not allow me to proceed without doing the State taxes on line. It was very frustrating. Finally, I got out of the ;program. Will that happen to me again this year as I attempt to do my Federal taxes via turbo tax? I want to be guaranteed that it will not. The State taxes have already been filed for 2013 and approved.

    1. Hi Lee,
      There is not a requirement that you file your State taxes in order to file your Federal taxes. You should be able to go through the Federal program and only file your Federal
      Thank you,
      Lisa Greene-Lewis

  3. I e-filed my taxes with an extension (form 4868) an extension with Turbotax in April and it was accepted. I estimated a K1 and received a return electronically. The K1 was more than I estimated and now I owe. How do I make the final payment through Turbotax. Do I file electronically and deduct the payment the IRS gave me in April if so where and what form, or do I need to file an Amended return.

    1. Hi Ron,
      You have to amend your tax return with TurboTax to adjust the K-1 amount. TurboTax will figure out the correct amount you owe when you get into your original tax return and make the adjustment for the K-1. Amended tax returns cannot be e-filed. They have to be mailed in. Please see this FAQ for more on how to amend your tax return
      https://ttlc.intuit.com/questions/1894381
      I hope this helps.
      Thank you,
      Lisa Greene-Lewis

  4. Hi Lisa I didn’t file for an extension will I be penalized? Also I have s court order that I can file my two kids but my ex did I’m sure can I still file ?

    1. Hi Anthony,
      If you owe money you will unfortunately incur a failure-to-pay and failure-to-file penalty. If you have a court order to claim your kids then you are eligible to claim them, however if your ex claimed them already you will have to show the IRS proof that you have a court order to claim your kids.
      Thank you,
      Lisa Greene-Lewis

    1. Hi Dale,
      Yes, you can still file your 2012 and 2013 taxes. The October 15 tax deadline is for 2013 taxes. You can still file your 2013 taxes on line by logging in here https://turbotax.intuit.com/
      If you need to still file your 2012 taxes the extended deadline passed and the IRS no longer accepts e-filed tax returns, but you can still file using our CD or product download here https://turbotax.intuit.com/personal-taxes/past-years-products.jsp
      Thank you,
      Lisa Greene-Lewis

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