February 27th, 2012 by mrager
Taxpayers are given three years to file their income tax returns and claim any refunds they are due based on the overpayment of tax liabilities. That means the date to file your 2008 tax returns is quickly approaching, and if you do not get it filed prior to April 17, 2012 you will be out of luck.
The IRS recently notified the public about this with a YouTube video. The IRS is estimating that refunds of more than $1 billion are waiting to be claimed by a projected one million taxpayers who have yet to file their 2008 returns. The IRS is also estimating that half of the un-filed returns have potential refunds of $637 or more.
While filing returns can be a painful experience, it may be beneficial to get out the pencil and calculator (or tax preparation software) and get that return prepared and filed with the IRS. Once April 17th comes and goes, your refund will no longer available to anyone other than the federal government.