my refund back this year?and what are qulifactions to file rapid refund? why would a bank deny a ral loan??
2007-12-29 04:59:11 · 3 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
Your federal income tax for 2008 is due to be filed April 15, 2009. Your 2007 federal tax return is due to be filed by April 15, 2008. So if you are talking about your 2006 federal income tax return which was due by April 15, 2007, you should file it now. File any deliquent tax returns before filing your federal income tax for 2007( you have until 4-15-2008 to file the 2007). If you file your 2007 before any deliquent years IRS will hold your refund if one is due until you have filed all your deliquent tax returns. It take 6-12 weeks to process deliquent tax returns, which the refund for 2007 will be held until then.
2007-12-29 12:26:34 · answer #1 · answered by Ms. Angel.. 7 · 0⤊ 0⤋
The IRS may "hold" your refund until you file the 2006 return. This is especially true because you agree that you owe. You probably now owe $375 due to penalties and interest.
Do NOT get a rapid refund (technically a loan) if you are missing a tax return. If the IRS holds your refund until you file for 2006, that will delay the refund for 6-8 weeks. After 2 weeks, the bank will start demanding their money back!
Besides, if you owe for 2006, you won't be getting all of your money back.
2007-12-29 05:05:31 · answer #2 · answered by Anonymous · 1⤊ 0⤋
They might or might not hold this year's refund - depends on whether they've caught up with you yet. You'd be ahead to just file and pay it, since they'll get you eventually.
An RAL loan would be denied if your refund is flagged for offset so you wouldn't be getting it.
2007-12-29 05:04:34 · answer #3 · answered by Judy 7 · 1⤊ 0⤋