Can My 2010 Tax Return Be Filed Now?

Happy New Year and happy 2010 tax return filing season! A month into the year we’re already seeing an increase in the number of returns being filed and the number of questions we’re getting (here or at dinner parties) is increasing.

So here’s our attempt to answer some of the questions you may have about your 2010 Tax Return. We hope it’ll make things easier for you (and, ok, us):

  • When can I file my 2010 tax return? Technically, you could file your return the moment the clock strikes midnight on December 31st. Practically, however, you have to wait. If you have a job, you need a W2 (or a 1099) form before you can file–the same with student loans, bank accounts that accrue interest, and more. Until you have all the paperwork with your entire financial information ready, your filing will be incomplete.Legally, your jobs, banks, and colleges have to give you all this information before March and most do it this month. If you’re still waiting in February, start pestering!
  • How has the law affected my credits? As you may know, there was some hoopla about tax credits and cuts ending this year. For the most part, things have been kept the same, but there have been some changes. As of 2011, the Making Work Pay Credit no longer exists, which means you see some more money in your paycheck, but potentially a much smaller refund.Fortunately, the 2010 tax return still has the Making Work Pay Credit included, as well as a whole mess of credits and cuts that won’t exist next year. So be sure to take advantage of them now, before they go away!
  • I haven’t filed my 2009 tax return–can I still file? Yes! But it’ll really be much easier to do your 2010 tax return if 2009 is already complete. It also helps ensure that your refund won’t be garnished to cover tax debt. Fortunately, you may not even owe money on your 2009 and doing it can help you on your 2010 tax return, by giving you a better sense of what you made and gave away last year.So you can still file that 2010 tax return, but we highly recommend filing both! After all, why let unfiled taxes hurt your financial future when you don’t have to?
  • Can I still get a Refund Anticipation Loan? Refund anticipation loans will exist for the foreseeable tax future, but they are getting heavily regulated. Fortunately our site still offers them, as we understand what a financial life line they can be and we want to help our customers when we can. For the 2010 tax return, a RAL should be no problem!

This isn’t an exhaustive list by any means, so if you have questions about your 2010 tax return, ask them in the comments and we’ll address them in future posts!

5 Replies to “Can My 2010 Tax Return Be Filed Now?”

  1. two questions

    1. need to file last year taxes no w-2s how would i go about getting double twos not sure where i worked.

    2. if you are uver 80 do you still have to file if u spend more than u make

    1. Hi Lori,

      RapidTax offers retrieval of missing W-2s or other IRS forms. When you create an account, simply choose “Retrieve IRS Records” instead of a year’s return. As for your second question, filing taxes had nothing to do with how much you spend, but how much income you have. Those 65 and older must file if they have income of at least $10,950, but could benefit from filing in the following situations.

    1. Hi Cindy,

      You do not need to file a tax return for 2011, but you do need to file one for 2010 if you haven’t already done so. Generally speaking, you only need to file for tax years during which you made income, although in some years. Here’s the relevant IRS page in case you want some more info.

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