Can You Still Get a Federal Refund for 2011?

Can You Still Get a Federal Refund for 2011?

The tax filing deadline for 2011 returns may have passed, but you can still get a refund

The official due date for 2011 taxes was last year, but thankfully if you missed the boat on filing on time you can still get a refund.

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 have until April 15, 2015 to file your 2011 return and claim your refund. But why wait until then? You’re essentially giving the government an interest-free loan when you could be buying so many awesome things with that money.

If you don’t claim your refund by April 15, 2015 then the U.S. Treasury gets to keep your refund. You can still file a return, but you won’t get any money back.

Penalties and interest

If you’re due a refund there’s even more 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. Getting your money late is the only punishment you’ll face for filing late.

Why file

In addition to getting your money back 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 a 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

Ready to claim your money from the IRS? It’s actually a lot easier than it seems. You can actually 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 you can’t use how hard it is as an excuse. Add to that the fact that late filers are actually more likely than normal filers to get a refund and you’ve got a pretty compelling reason to start your 2011 right now.

Photo via JD Hancock on Flickr.

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This entry was posted on Friday, April 12th, 2013 at 3:43 pm and is filed under Tax Tips.

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