The filing deadline to claim your 2011 tax refund has passed but you should still file
The IRS statute of limitations allows you to claim a refund for three years after the original due date of a return. That means you had until April 15, 2015 to file your 2011 return and claim your refund.
If you didn’t claim your refund by April 15, 2015 then the U.S. Treasury got to keep your refund. You can still file a return, but you won’t get any money back.
Penalties and interest
If you were due a refund here’s some good news: you won’t have to pay any penalties or interest. That’s right, the IRS only charges penalties and interest of people who owe taxes. Letting the IRS keep your refund is the only punishment you’ll face for filing late.
Why you should still file
Even though you aren’t able to claim your refund anymore, there are plenty of other good reasons to file your taxes. Past year tax returns are often required in order get a loan for a car or home or to sign a lease on an apartment. Plus most college financial aid nowadays is contingent on past year tax returns.
How to file a 2011 return on RapidTax
Convinced you really should still file? It’s actually a lot easier than it seems. You can file your 2011 return right here on RapidTax. To get started all you have to do is create an account. Then just follow the instructions and enter the necessary information into the tax application. At the end of the process RapidTax will automatically fill out your return and any other forms or schedules you have to file.
The only downside is that the IRS does not allow you to e-file prior year returns so you’ll have to print your return out, sign it, and mail it to the IRS.
It really is that simple, so don’t wait any longer! Start your 2011 right now.
Photo via JD Hancock on Flickr.Friday, April 12th, 2013 at 3:43 pm and is filed under Tax Deadlines, Tax Tips.