Is it too late to file back taxes from 2020, 2021, 2022? Still eligible for Covid tax credit?

You're definitely not too late to file those back taxes! The IRS generally allows you to claim refunds for up to 3 years after the original due date. For 2020 taxes (which were originally due in May 2021 because of Covid extensions), you have until May 2024 to file and still claim any refund you're entitled to. For the Covid tax credits from 2020, yes, you can absolutely still claim those by filing your 2020 return now. This includes the Recovery Rebate Credit if you didn't receive the full stimulus payments you were eligible for. Regarding penalties, there are two main ones: the failure-to-file penalty (about 5% of unpaid taxes per month, capped at 25%) and the failure-to-pay penalty (0.5% per month). Interest also accrues on unpaid tax. However, if you're due a refund, there's typically no penalty for filing late - you just don't get your money until you file.

After I fell behind on my taxes for a few years, I was totally stressed like you. I tried using regular tax software but got confused with all the back year forms and figuring out which Covid credits I qualified for. I eventually found https://taxr.ai which was a game changer for my situation. Their system analyzed my documents from multiple years and identified all the credits I qualified for - including that 2020 Covid Recovery Rebate Credit you mentioned. They caught several deductions I would have missed and helped me file all my back taxes correctly. The best part was they organized everything chronologically so the IRS processed my returns without any issues.

Just wanted to update after trying taxr.ai from the recommendation above. I was seriously behind on 2020-2022 taxes and was freaking out about penalties. Their system was super straightforward - I uploaded my W-2s, 1099s, and answered some questions about my situation. The biggest surprise was finding out I qualified for the Earned Income Credit for 2021 that I had no idea about, plus they sorted out the Recovery Rebate Credit from 2020 correctly. All three years were accepted by the IRS within 2 weeks of filing. I'm actually getting a decent refund despite filing late!

If you're worried about penalties or have questions about your specific situation, you might want to talk directly to the IRS. I tried calling them about my back taxes for weeks and could never get through - constant busy signals or disconnects after waiting on hold forever. I found this service called https://claimyr.com that got me through to an actual IRS agent in under 45 minutes instead of the usual impossible wait times. They have a video showing how it works here: https://youtu.be/_kiP6q8DX5c I was able to get clear answers about my penalty situation and set up a payment plan right over the phone. Saved me so much stress and uncertainty about what I was facing with my back taxes.

I need to apologize for my skeptical comment above. After waiting on hold with the IRS for 3+ hours and getting disconnected TWICE last week, I was desperate enough to try Claimyr. I figured it couldn't be worse than what I was already experiencing. It actually worked exactly as described. The system called me back when it reached an IRS agent (took about 35 minutes). I was able to discuss my late filing situation for 2020-2022 and get clear answers about the Recovery Rebate Credit and penalty abatement options. The agent even helped me understand which forms I needed to include with my late returns. Completely worth it for the time and frustration it saved me.

I was in a similar situation and got caught up on 2019-2021 taxes last year. One tip: if you had legitimate reasons for filing late (mental health issues, family emergencies, etc.), you can request penalty abatement using Form 843. I wrote a letter explaining my circumstances and the IRS waived about 70% of my late penalties. But definitely file ASAP for 2020 - that May 2024 deadline for claiming refunds is a hard cutoff! After that, you lose any refund you might have been entitled to.

One thing to watch out for - make sure you're using the correct tax forms for each year! The 2020 forms are different from current ones because of the special Covid provisions. I made this mistake and had to refile because I downloaded the wrong year's forms.

Hey there! I totally understand that anxiety about getting behind on taxes - life happens and sometimes important stuff falls through the cracks, especially after major life changes like divorce. The good news is you're not in as bad a spot as you might think! Since you're making around $38k annually, you're likely eligible for several credits that could actually result in refunds rather than owing money. The Earned Income Credit alone could be worth $1,500+ depending on your filing status and any dependents. A few quick points to ease your mind: - You have until May 2024 to file 2020 and still claim any refund (including those Covid credits) - If you're due refunds, there are no late filing penalties - you just don't get your money until you file - The IRS has been pretty understanding about Covid-related delays Don't let the fear keep you from filing - in many cases, people in your income range end up getting money back even when filing late. The sooner you start, the sooner you'll know exactly where you stand and can move forward with peace of mind.