My friends and I were having a conversation last night about tax refunds and one of them said that she didn't file one last year, but that she heard that when it comes to refunds you can file up to five years back?? Is this crap true?
2007-02-22 00:58:14 · 5 answers · asked by boricua_lilly 3 in Business & Finance ➔ Taxes ➔ United States
wow really? cool!!
2007-02-22 01:07:18 · update #1
Yes and no. If you have a refund coming, you have 3 years (not 5) from the filing deadline to claim it. After that, it's lost forever.
2007-02-22 01:01:35 · answer #1 · answered by Bostonian In MO 7 · 6⤊ 0⤋
You lose refund after 3 yrs after tax was due so no.
2007-02-22 09:03:38 · answer #2 · answered by vegas_iwish 5 · 1⤊ 0⤋
3 Yrs. That's only if you have a refund. If you owe they will wait and nail you with penalties and interest.
2007-02-22 09:07:03 · answer #3 · answered by noey 2 · 3⤊ 0⤋
it is not 5 years but 3 years. and the IRS gives you interest!!
2007-02-22 09:06:52 · answer #4 · answered by the_quiet_storm2 3 · 1⤊ 2⤋
Not without risk. Ask a CPA.
2007-02-22 09:01:20 · answer #5 · answered by merlins_new_apprentice 3 · 1⤊ 4⤋