Can you really only file one tax return per year?

Question

I just finished filing my 2006 tax return. I wasn't able to file my 2005 tax return year last year. So I want to go ahead and do that too, since I read that you only have 3 years to file a return. My 2006 tax return was just accepted (I don't owe money by the way, I get a refund for both Federal and State) - will the IRS reject my 2005 return or will they give me a refund on both returns?

I'm just confused because I also heard you can only do one return per year...

Answer 1

File the 2005 return. It is one tax return per tax year, although, if you found a mistake on a tax return, you can always file an amended tax return, a 1040X. As far as the 3 years, that only holds true if you are owed a refund, if you owe taxes you have forever to file that return.

Answer 2

You can multiple prior year returns in the same year. (I did 12 returns (1990 - 2002) and mailed them in one year for my dad). Actually since you did you 2006, they will find out that you did not file 2005.. especially if you files 2004.

So file 2005 now. It sounds like the advice about 2 returns in a year referred to the same tax year (ie: filing two 1040's for 2006 in 2006).

FYI: you have 3 years to get a refund, you can file a return whenever... so if you wait 4 year to file, you can still be penalized for not filing a return, but you can not get a refund back, if you are owed it.

In summary: they will give you the refund for both years 2005 and 2006 if you file 2005 shortly, no problem.

luck

Answer 3

While it's true that you can only file one return per tax year, you haven't filed the 2005 return yet so you still can. And you should! If you have a refund due for tax year 2005, you'll get it once you file the return.

Answer 4

No, they won't reject your 2005 return, since it's for a different year. You can only file one return FOR each year.

Answer 5

One return per TAX year, not year you actually file in.