The IRS owes me 1200. Is it too late to file and get my refund?
2006-12-31 23:03:48 · 6 answers · asked by sissybooger 1 in Business & Finance ➔ Taxes ➔ United States
Nope. Go ahead and file your 2005 taxes.
Be aware that you won't get the whole $1200, since the IRS will keep some of your money for late filing penalties.
2006-12-31 23:06:19 · answer #1 · answered by Stuart 7 · 1⤊ 0⤋
There is no penalty for failure to file a tax return if a refund is due. But by waiting you can lose your refund. In order to receive a refund, the return must be filed within 3 years of the due date.
The IRS also offers free assistance in filing and can help you obtain the forms you need. File and get your money!
2007-01-05 00:57:01 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Get them filed ASAP. After three years you are out of luck.
We have a tax client that didn't file returns for 4 years (no matter how much we nagged her). She got huge refunds for the last 3 years but the gov't got to keep the first year's refunds. Same client just got a "nasty-gram" from CA asking about her 2005 return. She never mailed it.
YOU WILL GET A LATE FILING PENALTY FOR A LATE RETURN.
2007-01-04 17:30:13 · answer #3 · answered by Dizney 5 · 0⤊ 0⤋
Definitely file your 2005 taxes. The IRS may impose a failure to file penalty because you did not file it in a timely manner. However, if you have a valid reason for not filing timely, you may get an abatement of the penalty.
Keep in mind that no longer is electronic filing available for 2005 tax returns. It will have to be a paper filed return, sent through the mail.
If your reason for filing late is a valid one, please do include with your paper filed tax return a letter of proposed penalty abatement or try sending a hand written letter of explanation with it. Heck, it's worth a try. If you do attempt it, you'll never know if they would get rid of the penalty.
Good luck. Try checking the NAEA website at http://www.naea.org website for an Enrolled Agent in your area who is more adept at handling issues such as yours.
To find an EA near you please contact www.naea.org or phone them at 1-800-424-4339 at the toll-free EA Referral Hotline for taxpayers.
2007-01-01 07:30:00 · answer #4 · answered by Meg 2 · 1⤊ 0⤋
Yes file and, contrary to the previous posts, there is no penalty for filing late as long as you do not owe the IRS.
2007-01-01 22:24:37 · answer #5 · answered by j4_bdot 1 · 0⤊ 1⤋
yes file your 2005 taxes,you have up to 3 years to file your back taxes.
2007-01-04 17:14:12 · answer #6 · answered by sassie 2 · 0⤊ 0⤋