The Tax Preparation Blog

Posts Tagged ‘july_2008’

Question: is it too late to file for a tax return and interpreting a publication?

I am a non-resident, who have worked as a seasonal worker in the USA for 4 months in 2006. By this moment I have not filed for my tax return. I have to get 100% on the tax paid as a refund, because my income is below the taxable income line. Some people tell me that I have missed the deadline and I’ll be charged penalties. However, this is what I found in IRS publication 519, p.40:
“If you file for 2006 calendar year, your return is due April 17 2007″
Moreover: “When to file for deductions and credits. To get the benefit of any allowable deductions or credits, you must timely file a true or accurate return. For this purpose, a return is timely if it is filed within 16 months of the due date just discussed”.
The due date is Apr. 17th, which means that if I file before Aug 17th 2008 for 2006, my return filing would still be timely.
Is my reasoning correct? The due date is Apr. 17th, so it is 16 months after that date, right?

Answer: in regards to the 2006 federal income tax return, if you are getting a refund then it only matters that you file the return before april 15, 2010….irs does not care about giving you money so its up to you to file to claim it but you only have a 3 year statute of limitations to do so….no penalties or interest will accrue in this instance…..if you owe them money…the return and the money are due on april 17, 2007….penalties and interest will accrue on returns not filed and paid timely…..you can file 2006 anytime before the date in 2010 to receive a refund…after that you can file it but it is not likely you will receive a your refund but you could fall through the cracks…i have seen it happen

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