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Tag: prior year state taxes

Posts Tagged ‘prior year state taxes’

10 Reasons to File Your Prior Year Tax Return Now

Posted by Manisha Hansraj on December 3, 2019
Last modified: December 5, 2019
prior year tax return

It’s not too late to file your taxes.

Life is never put on hold, even for tax season. Before you know it, the April and even October deadline fly right by. Then, you forget to file it next tax season and then the season after that.

However, although the deadlines go by, you should still file your prior year tax return. Here are some reasons why.

1. You’re getting a refund

One of the most important things to remember is that the IRS does not wait for anyone. According to the IRS, you have a three-year statute of limitations for refunds; meaning you can only claim tax refunds going back three tax years within the original April due date.

For example, if you want to claim a 2016 tax refund, your last chance to claim it is April 15, 2020. This means you must file by that date to get your refund. Therefore, any tax years going back from 2016 cannot be claimed.

Check out our helpful tax calculators to determine your refund for relevant tax years.

2. The IRS can hold your current year refund

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Can I Still File Past State Tax Returns?

Posted by admin on May 7, 2013
Last modified: September 25, 2018

How to take care of your late state tax returns

If you get behind on federal income taxes, the IRS lets you know. When you have past state tax returns to file? Not so much. States have a way of getting behind on taxes, which creates massive deficits, which makes it harder for them to do stuff like repair your highways. It can also mean that they have a bunch of refunds to hand out, but not the know-how or manpower to contact the people owed.

That’s right: if you have past state tax returns to do, you might be missing out on getting your own money back.

And if you owe money, you may not have any idea until they start repossessing your house. What’s a taxpayer to do? Here are some steps to take:

  • Make sure you have past state tax returns to file. Even if your state sent you a letter, they could still have it very wrong. It’s always a good idea to verify when someone sends you a letter demanding money. Make sure it’s actually you who owes the money and make sure the letter actually came from your state IRS first.
  • Find out what your state laws are. The rules for filing past state tax returns vary from state to state, so make sure you know yours! It could be that there is a statute of limitations past five years. It could be that you aren’t eligible for a refund after a year. The fines and interest involved also. (more…)