2007-03-06 01:58:50 · 4 answers · asked by ricardo s 1 in Business & Finance ➔ Taxes ➔ United States
If you haven't filed in that long and the IRS hasn't contacted you, it's very possible that you had refunds coming for those years. By not filing, you have forfeited any refunds older than the 2003 tax year. OK, maybe they'd have taken those refunds toward your student loan debt, but at least that would have been paid down some - by not filing, you didn't get your refund if you had one coming, you didn't pay toward your student loan debt and interest is still adding up on those.
It would be in your interest to file the back returns, and actually you are legally required to. Even if your refunds get taken for your loans, at least you'd be paying off part of those and not having it hanging over your head.
2007-03-06 03:16:59 · answer #1 · answered by Judy 7 · 0⤊ 0⤋
It takes about zero effort to get a student loan renegotiated to be payable in small increments which would trigger a release of your refunds with IRS. You have possibly lost a huge amount of refunds to escape that were can not be escaped only made more palatable. There may even be a statute of limitation on the collectability of a student loan. You might want to look into just how long the government may pursue collection.
2007-03-10 01:07:32 · answer #2 · answered by 1040 Agent 2 · 0⤊ 0⤋
I have NEVER in my life filled out any Tax forms, and im just fine. Im 48 and run my own bussiness since I was 18 years old.
People who pay taxes are just brainwashed into doing so.
2007-03-06 10:10:13 · answer #3 · answered by Mike E 3 · 0⤊ 2⤋
what???
2007-03-06 10:03:07 · answer #4 · answered by pdtpatrick 3 · 0⤊ 0⤋