Arizona Tax LawyerAre you an Arizona taxpayer who didn’t file a 2008 tax return with the IRS? You might just want to take care of that. The IRS owes over $1 billion to U.S. taxpayers across the country. Of that, almost $25 million is owed to Arizona taxpayers who didn’t file a return in 2008 to collect a refund.
No Penalty for Filing a Late Return to Claim Your Refund
Like many people, you might believe that it is best to simply let sleeping dogs lie. Well, if want to hand over your hard-earned money as a gift to the federal government, then don’t take any action to collect your refund. But if you happen to be among the 29,000 Arizona taxpayers who want the refund they’re owed, then definitely file a late return for the 2008 tax year. The good news is that there is no penalty for filing a late return when you are owed a refund.
Although taxpayer refunds will vary from one person to the next, the Arizona median tax refund amount is about $558. The median tax refund amount nationwide is even higher at $637. And if you need another reason to file your 2008 return, how about this: you could be entitled to the Recovery Rebate Credit and Earned Income Tax Credit for that tax year.
Did you earn income in 2008? Did you have taxes withheld from your paycheck or pay estimated taxes, but never filed an income tax return? If so, you were given three-years to file your 2008 return and still collect any refund. Those three years expire in less than two weeks!
To claim your 2008 refund, you must file your 2008 tax return by April 17, 2012.
You may have missed other years as well. If you had income, but didn’t file a tax return for 2009 or 2010, then the IRS may hold on to your 2008 refund check. Furthermore, the IRS can apply your refund to any back taxes you may still owe for other years.