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Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10103
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
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I have unfiled tax returns from 2008-2011. I am due refunds

Customer Question

I have unfiled tax returns from 2008-2011. I am due refunds from some of those years. Can I expect to collect them.
Submitted: 3 years ago.
Category: Tax
Expert:  Lane replied 3 years ago.

Customer:

Hi,

Customer:

Please don't shoot the messenger here, ...

Customer:

IRS has a statute of limitations on refunds that looks back three years

Customer:

That may, however, be only for AMENDED returns ... let me check the regs for you...

Customer:

just a sec

Customer:

Yes, there's a three year deadline for getting a refund...This doesn't mean however, you still shouldn't file...It's a great way to ensure you won't get a penalty for filing late (because late filing penalties - just like the late payment penalty - is based on taxes owed)

JACUSTOMER-6aoii1y8- :

ok

Customer:

If this HAS helped, I would appreciate a feedback rating of 3 (OK) or better … That's the only way they will pay us here.


HOWEVER, if you need more on this, PLEASE COME BACK here, so you won't be charged for another question.

Expert:  Lane replied 3 years ago.

Thanks Chuck,

 

Our chat has ended, but you can still continue to ask me questions here until you are satisfied with your answer. Come back to this page to view our conversation and any other new information.

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If you haven’t already done so, please rate your answer above. Or, you can reply to me using the box below.

 

Let me know,

Lane

 

Expert:  Lane replied 3 years ago.

Hi Chuck,

One of my colleagues has pointed out that I should point out that I could have been a little more specific:

(I may be stating the obvious here, but) you WILL receive refunds for 2010 and 2011, but not for 2008 and 2009, if you go ahead and do them now.

The piece, however, that some miss, (once they understand the three year rule), is that you are running interference against a failure to file penalty by going ahead and filing, even though you may not get a refund check for that year.

Hope this helps

Lane

Positive feedback is appreciated ... It's the only way they will pay us here.
Expert:  Lane replied 3 years ago.

Hi,


One more refinement.



We collaborate here, and ANOTHER pf my colleagues has pointed out the following:

He should get 2009 also since he has 3 years including exte"nsions (so he has until 10/15)...also he said SOME of the years he expected to have refunds coming...........I know you've mentioned the failure to file penalty....but we don't know what years he expects to get refunds vs what years he thinks he might owe"


Hopefully, this gives you enough information to make an informed decision.

Lane