Im not it is going to affect our funds.
2007-04-04 07:56:00 · 7 answers · asked by ☃FrostyGal♪♬♪ 4 in Business & Finance ➔ Taxes ➔ United States
No, you have up to three years after the filing deadline to file for refunds. If you owe a balance due,then that is a different story. You would then owe penalty and interest. The government doesn't charge you penalty and interest if you are getting a refund, for obvious reasons.
2007-04-04 08:05:26 · answer #1 · answered by Fool in the Rain 6 · 2⤊ 0⤋
You must claim any refunds within 3 years of the filing deadline for the return. The deadline for tax year 2003 is April 17, 2007. After that date, it's lost forever.
2007-04-04 08:27:32 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 0⤋
Depends on how long after. If it's within 3 years of the deadline, you'll still get your refund. Any longer, no.
As long as you're due a refund, there wouldn't be a penalty for that year for filing late.
2007-04-04 08:13:31 · answer #3 · answered by Judy 7 · 1⤊ 0⤋
If you have not filed your 2003 Tax return, and you are expecting a refund, you have 13 days or loose it.
For 2004, you have until next April 15th
For 2005, you have until April 15th 2009
For 2006, you have until April 15th 2010
good luck & happy filing
2007-04-04 08:05:40 · answer #4 · answered by Wood Smoke ~ Free2Bme! 6 · 2⤊ 0⤋
You do NOT lose a refund if you file late. If you owe money you would have to pay a fine as a % of what you owe.
Always keep hard copy proof that you filed regardless of if you owe or not. IRS can audit you for 7 years from the date your tax return is filed with the IRS.
2007-04-04 08:26:03 · answer #5 · answered by richard.butt 2 · 0⤊ 2⤋
No, but I believe there is a $250 late fee that they charge. Plus, if you owe money, they tack on interest.
2007-04-04 08:06:24 · answer #6 · answered by Brian A 2 · 0⤊ 3⤋
You don't lose it as such, it is inly reduced by the penalties and interest that you will owe.
2007-04-04 08:04:44 · answer #7 · answered by Akbar B 6 · 0⤊ 4⤋