2006 seems like ages ago now, but some people still live with the stress of not having filed taxes for that year. If that’s you, file now and lift this burden from your shoulders. On PriorTax it’s much easier than people think. A few minutes of your time is a small price to pay for peace of mind.
No, unfortunately you can no longer get a refund for 2006 taxes. The statute of limitations only allows you to get a refund for three years after the original due date of the return. This means the last chance to get a 2006 refund was April 15, 2010. If you still haven’t filed your 2010, 2011, or 2012 return, be sure to do so now so that you don’t sacrifice your refund.
Even though your refund now belongs to the U.S. Treasury, there are still plenty of reasons to file a late tax return. Often you have to show copies of prior year tax returns in order to get a loan for a home or a car or sign the lease for an apartment. Financial aid for college is now mostly based around tax returns as well. Plus you might decide to run for President one day - who knows.
Then there are always the negative consequences of not filing. If you don’t file, the IRS could estimate your tax liability (often for more than you actually owe) and then come after you for that amount. They can levy your bank account, wages, and other income and even force you to sell or mortgage your assets.
The good news is that if you were due a refund, you won’t have to pay any penalties or interest for filing late. The IRS considers forfeiting your refund enough of a punishment.
Unfortunately if you do owe money, you will most likely owe penalties and interest. These can include a failure-to-file penalty, a failure-to-pay penalty, and interest. Trying to hide from the IRS won’t do very much good, however. They have ten years to collect their money and the penalties grow bigger for every day that your return goes unfiled or your tax liability unpaid.
Filing a 2006 tax return couldn’t be simpler on PriorTax. All you have to do to get started is create an account. Then follow the instructions and enter all of the necessary information into PriorTax’s online application. At the end of the process PriorTax will automatically fill in your return and any other forms and schedules you have to file.
Unfortunately the IRS does not allow you to e-file prior year tax returns. After your return is prepared you will have to print it out, sign it, and mail it to the IRS.
When PriorTax makes it so easy there’s no excuse not to file. Create your account to get started today.