What are the Filing Deadlines for Tax Year 2013?
In order to meet the filing deadline for tax year 2013, income tax returns must be properly transmitted and acknowledged or addressed, mailed and postmarked by Tuesday, April 15, 2014.
Returns calculated with refunds can be filed up to three years after the official filing date of the return in question.
Using that information the final date a taxpayer can file for a refund for tax year 2010 is also April 15, 2014.
Is the IRS holding onto your money?
The IRS is holding onto nearly $760 million in unclaimed tax refunds that will soon become the property of the U.S. Government if taxpayers don’t collect it.
In a statement released on March 18, 2014 by the IRS, the money belongs to 918,600 taxpayers who still haven’t filed their 2010 tax returns.
To collect the money, a return, or an amended return, for 2010 must be filed with the IRS no later than Tuesday, April 15, 2014.
If no return is filed to claim a refund within that three-year window, the money becomes property of the U.S. Treasury.
Are you losing your opportunity to receive the 2010 Earned Income Tax Credit?
If you did not file taxes because your income level does not require you to file, the IRS might owe you a refund.
This is because an Earned Income Tax Credit (EITC) has been awarded to low wage earners in recent years.
If you qualify, the credit could easily outweigh your tax obligation.
For 2010, the credit is worth as much as $5,666.
The EITC helps individuals and families whose incomes are below certain thresholds.
More EITC information is available on line at: www.irs.gov/.
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Questions for Deborah Ritz can be e-mailed to The Weekly Adirondack at WeeklyADK@yahoo.com