When can I file my 2014 taxes?

When can I file my 2014 taxes? The short answer is — towards the end of January 2015. More details and a calendar of important dates and deadlines for filing your 2014 taxes is below.

January 5, 2015

Common Form is open for business and begins accepting 2014 tax returns. You may submit your return and we will hold it until IRS e-file opens. If you want us to inform you when we open, click here to get a reminder email or follow us on Facebook.

Late January (date TBD), 2015

IRS e-file goes live and begins accepting returns. If you filed your taxes with us before this date, we’ll transmit your return as soon as IRS is ready to accept it. The exact date varies each year and isn’t finalized for tax year 2014 yet. It relies on Congress deciding if they’re going to extend around 55 tax deductions and credits for 2014. This article will be updated when Congress decides and the date is set.

January 31, 2015

Deadline for your employer to mail you your W-2. This is a mailing deadline, so if your company waits to the last minute you may not get it until early February. However, many employers offer electronic versions via the same website you can view your pay check stubs. If you received unemployment, this is also the deadline for the state(s) that paid you to issue you a 1099-G.

February 2, 2015

Deadline for banks to supply you with a 1099-INT reporting bank account interest you made. Note that banks are only required to issue a 1099-INT if you made at least $10 of interest during the year, however you are still required to report it even if they don’t send you one. If you made less than $10, use your bank statements or online banking to determine the amount of interest you made.

April 15, 2015

Also known as “tax day.” Most people believe this is the deadline to file your 2014 income taxes. That’s close enough. It’s actually a payment deadline rather than a filing deadline. If you owe IRS additional taxes, you must pay and file them to avoid fees and penalties. However, if you’re getting a refund, this deadline doesn’t apply to you. You can file for up to 3 years with no late fees. But why be lazy and extend the interest free loan you’re giving Uncle Sam?

If you want to, you could file an extension. But extensions are fool’s gold — you still have to pay at least 90% of taxes owed and do almost as much work as filing your return.