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PSA: File Your Past Tax Returns!

Posted By Jim On 03/15/2011 @ 1:32 pm In Taxes | 5 Comments

Filing your taxes is not fun. In fact, it’s so “not fun” that many people try to figure out whether they even need to file in the first place. If you’re trying to figure out whether or not you should file your tax return, I recommend this IRS tool called the Interactive Tax Assistant [3] because you should really be asking the IRS, not me or any other “expert.”

If you don’t have to file a tax return, you may still want to because you might be due some money. The IRS announced [4] that almost 1.1 million taxpayers didn’t file a return in 2007 and they are owed a combined $1.1 billion in potential refund. Half of that group is owed at least $640 and you have until this year to file a 2007 tax return (you have three years to file a return to claim your refund). Afterwards… the money is theirs forever. Also, if you do file a 2007 return to get your refund, you’ll also have to file a 2008 and 2009 tax return to make sure you don’t owe anything to the tax man.

Finally, while you’re at it, you should research if you have any missing money [5] out there.

Good luck!


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[1] Tweet: http://twitter.com/share

[2] Email: mailto:?subject=http://www.bargaineering.com/articles/psa-file-tax-returns.html

[3] Interactive Tax Assistant: http://www.irs.gov/ita/article/0,,id=219890,00.html

[4] announced: http://money.cnn.com/2011/03/01/pf/taxes/irs_tax_refunds/index.htm

[5] missing money: http://www.bargaineering.com/articles/finding-your-unclaimed-property-money.html

Thank you for reading!