For most people, 2008 is an increasingly distant memory. That might not be the case if you still haven’t filed a 2008 return and are haunted by back taxes. File your 2008 return on PriorTax now to put your tax past behind you and move on with your life.
No, unfortunately you are no longer able to get a refund for your 2008 taxes. The IRS only allows you to claim a refund for three years after the original due date of a return. That means the last chance to get a 2008 refund was April 17, 2012.
Even though you can’t get a refund from 2008 there are still plenty of good reasons to file. Oftentimes you must show several years of tax returns in order to get a loan to purchase a car or a home or sign the lease on an apartment. And tax returns are a prerequisite for most college financial aid.
Plus, it’s the law. Don’t think that not filing a return will get you out of paying taxes. If you don’t file the IRS will estimate your tax liability (often for more than you actually owe) and then come after you for that amount. They can force you to sell or mortgage assets or take out a loan in order to pay as well as levy bank accounts, wages, and other income.
If you were due a refund, you won’t have to pay any penalties or interest. Not getting the refund is the only punishment for not filing on time.
If you do owe money, you may face a failure-to-file penalty, failure-to-pay penalty, and interest. All of these charges get larger for every day that your return remains unfiled or your tax liability unpaid. The only way to minimize the penalties is to file your return as soon as possible. Don’t worry if you can’t pay everything all at once. The IRS is usually pretty generous a setting up manageable installment plans.
All you have to do to get started is create an account. Then follow the instructions and enter the necessary information into PriorTax’s application. At the end of the process it will automatically fill in your tax return as well as all the required forms and schedules.
Unfortunately the IRS does not allow you to e-file prior year returns, so you will have to print your return out, sign it, and mail it to the IRS.
Don’t wait any longer to take care of your back taxes. Create an account and start on the road toward peace of mind.
