One of the first things I did as a newlywed was to take care of some of the business my new wife had neglected for years, which included filing tax returns! She had not filed in the last six years. After finally having her taxes done by a tax preparer, they told her that she would not be receiving any refunds on returns older than three years. Is this true? The amounts to be refunded are significant. Thanks.
-Fleemo
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No refunds can be had for years prior to 2001 as of right now. On April 15, 2005, 2001 will become a closed year-meaning no refund from that year. Wayne Brasch, CPA, M. S. Taxation
That's correct. You have three years from the due date of the return to file a return and claim a refund. Wait longer than three years, and you've given the government a gift. (And it doesn't even send a thank-you note.)
-- D.F. Manno snipped-for-privacy@spymac.com "The work goes on, the cause endures, the hope still lives and the dream will never die."
Yes, that is true. A taxpayer has the latter of three years from the original due date or two years from payment to claim a refund. Amounts withheld and estimated tax payments are considered paid on the due date for purposes of this rule.
Thank you all for taking the time to respond. An expensive lesson indeed!
-Fleemo
i believe what you will find is a claim for refund of federal income tax must generally be made within: a) 3 years of the due date (including valid extensions) of the original return, or b) 2 years of the date the tax was paid,
whichever is later
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