Expecting a Tax Refund? Don't Delay Filing or You Could Lose It
One of the more unpleasant surprises that a taxpayer can have is losing a legitimate tax refund. How does that happen? The tax laws give you three years from the due date of the return to file a refund claim. If you delay filing too long, you'll lose the refund. Of course, it's also against the law to not timely file a tax return, so there's no reason to delay. The refund statute of limitations has expired for 2007 and prior years, but it is still open for 2009-2011, as well as for 2008 for those who filed an extension request that year. So file those past returns ASAP!
Accel | 06/21/2012