how many years can u wait to file your taxes, someone told me you can hold your taxes for 4-5 years before u filed them
2007-01-07 18:21:24 · 5 answers · asked by got2know 4 in Business & Finance ➔ Taxes ➔ United States
No. After 3 yrs any refund lost. If owe - they can chase you down later with much penalties & interest. Never listen to people on taxes as they generally know nothing.
2007-01-08 02:08:58 · answer #1 · answered by vegas_iwish 5 · 1⤊ 0⤋
You can file back taxes forever. You cannot hold your taxes for 4 or 5 years and then file them. If you do not file you may have to pay a penalty for not filing.
If he is due a refund he must file within three years of the due date of the return or the refund is lost.
2007-01-08 04:19:54 · answer #2 · answered by ninasgramma 7 · 2⤊ 0⤋
Anyone under 18 OR making under a certain amount a year is not required to file their taxes, however, you should still figure out what the numbers will be, since he might actually get a return. You can usually get a 1040 EZ pamphlet at your local library, it has the age and monetary requirement in the pamphlet.
2007-01-08 02:36:12 · answer #3 · answered by famandertiff 2 · 0⤊ 2⤋
he doesn't really have to file tax return,if his income is lower than a certain level.
2007-01-08 02:27:40 · answer #4 · answered by di_cassano 4 · 0⤊ 0⤋
it would better to ask the tax department. explain the situation and they can be very understanding if you are honest with them
2007-01-08 02:33:59 · answer #5 · answered by iam g 2 · 0⤊ 0⤋