Monday Mishap: Haven’t Filed A Tax Return In Years
It depends on your situation. Let’s start with the worst-case scenario.
If you owed taxes for the years you haven’t filed, the IRS has not forgotten. For each return that is more than 60 days past its due date, they will assess a $135 minimum failure to file penalty. The failure to file penalty, also known as the delinquency penalty, runs at a severe rate of 5% up to a maximum rate of 25% per month (or partial month) of lateness. You can read more on penalties here.
If you were due a refund and hadn’t filed, there’s good news and some bad news.
Bad news: for any year more than three years overdue, you cannot file a tax return and claim the refund.
Still have questions? Visit an H&R Block office near you for help catching up on back tax returns.
If you received 1099 forms after filing your taxes, you may need to amend your return. Learn more from the tax experts at H&R Block
Learn more about the different types of EITC letters and notices you could receive from the IRS. H&R Block’s tax pros can help if the IRS ever contacts you.
Learn about the Tax Reform impact on higher education. There are both benefits and drawbacks that come with the new tax bill and affording college tuition.
Find out if you are eligible to claim the new credit for other dependents (formally called family tax credit) from the experts at H&R Block.