April 15, 2009 is the last day to claim your 2005 refund!
This time of the year, many people seem to panic to complete their tax returns before the deadline to avoid late-filing penalties. The tax deadline to file your current year 2008 tax return is April 15 and is also the deadline to file your 2005 tax return and claim a refund. Any 2005 returns filed after this date will not be eligible for a refund even if it is calculated that you are due one from the IRS. Furthermore, this “expired” refund cannot be used as a payment towards your future taxes (such as 2006, 2007 or 2008 taxes). Essentially this money you are entitled to will be gone forever. To claim your 2005 refund, make sure to log in and file your 2005 tax return online with priortax.com. We realize the importance of filing your 2005 tax return, and on the night of April 15, we will be available until midnight so that you can have your return processed within 10 minutes of submission.
Important Facts about IRS Time Limits and Statute of Limitations
- you have 3 years from the original deadline year to claim a tax refund for that year (i.e. 2005 taxes were due in April of 2006; therefore, the refund can be claimed until April 15, 2009.)
- The IRS can audit your return and make adjustments to your tax liability up to 3 years after the filing date of the return. If your return is on-time, the 3 year clock begins to tick after that year’s deadline.
- The IRS has 10 years to collect any past due taxes. The 10 year time period begins on the day your tax liability is finalized or calculated by the IRS.
This is bullshit that you only have three years to claim a refund but the IRS has up to ten years to collect owed taxes. The government acts as though they are in a totally different category. They can do whatever they want and all is excused, but the regular people have no choice. The rules and regs the government make are only for their convenience. I believe we are becoming a communistic country more so every day.