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| *Loan,banking and credit>>>tax refund |
Can I still get my refund for my taxes this year even thought I didin't file them last year? |
I still haven't filed my taxes for 2005. If I send in my tax return for 2006, will I still get my refund or will the IRS make me wait until I file my 2005 tax return? I owe a little money for my 2005 return. There is no consistent treatment by the IRS for your situation. In some cases, the IRS will hold your refund until you file your 2005 return. If you have already received a notice from the IRS that 2005 taxes are due, and have not responded, your 2006 refund may be used to offset your 2005 taxes. In other cases, the refund is issued. File 2006 and see. You may receive your refund for 2006, but you should file a return for 2005. You will be charged late penalties and interest for the underpayment. It's only a matter of time until you are billed for 2005, and the longer it takes, the more penalties and interest charged by the day. You should go ahead and file for both years. First, to get any money that is to be refunded to you and second, so you don't have a past liability hanging over your head. Besides, anytime money is owed to the IRS, they'll assess interest and penalties until it is paid, so the amount you owe is only getting larger. Go ahead and pay it to get it over with. Not if you owed money last year and didn't pay it. File for last year and get it over with! |
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