When to file tax return for FY 2015-16?

When to file tax return for FY 2015-16?

This means that for Financial Year 2015-16, the Income-tax return was allowed to be filed upto 31st March 2018. Because of this, the returns were not filed on time and people had ample time to plan out the transactions and evade tax.

What happens if you do not file taxes in 2011?

So if you did not file in 2011 or 2010, you have forfeited those refunds to the government. There’s no getting them back now. However, if you have not yet filed a return for 2012, 2013 or 2014, you can still file and receive any refund due.

What happens if I forgot to file my 2015 tax return?

If you owe additional tax for 2015, you may be faced with penalty fees. If you forgot to file by the deadline, you will be responsible for the failure-to-file penalty. You will be liable for the failure-to-pay penalty if you didn’t pay the IRS on time.

What happens if I haven’t filed a tax return in years?

I haven’t filed a tax return in a long time – maybe four or five years. How bad is that? It depends on your situation. Let’s start with the worst-case scenario. If you owed taxes for the years you haven’t filed, the IRS has not forgotten.

What to do if you haven’t filed your tax return?

If you haven’t filed your federal income tax return for this year or for previous years, you should file your return as soon as possible regardless of your reason for not filing the required return. If you need help, check our website. We have tools and resources available, such as the Interactive Tax Assistant (ITA) and FAQs.

Do you have to file a tax return?

If you’re not sure whether you’re required to file a return, visit Do I Need to File a Tax Return or refer to Publication 17, Your Federal Income Tax (For Individuals). If you’re required to file and owe a balance, but you can’t pay all the tax due on your return, the IRS may be able to help you establish a payment agreement.

What happens if you don’t file your taxes by the due date?

If your return wasn’t filed by the due date (including extensions of time to file): You may be subject to the failure-to-file penalty, unless you have reasonable cause for your failure to file timely.

Do you have to file a tax return for 2016?

The minimum income required to efile or file a tax return for Tax Year 2016 depends on your income, age, and filing status. The minimum income levels for the various filing statuses are listed in the table below. If you earned below the minimum income for your filing status, you may not be required to file a Federal Tax Return.

How to file previous years income tax returns?

Prepare & file previous years’ income tax returns online with TurboTax®. Fast, easy & accurate to prepare and file your income tax return. TurboTax® 2019, 2018, 2017, 2016 or 2015.

When is the last day to file income tax?

Qus : If the last date of filing falls on Saturday or Sunday or Public Holiday and Income Tax Department is closed on these days, can subsequent Monday be treated as “Last date of Filing”? Answer: Yes, if Income Tax Department is closed on these days. Otherwise, No. Qus : Is it mandatory to file return of income after getting PAN? Answer: No.