As a tax professional for many years, my advice is to always file your tax returns. But sometimes life happens and we find ourselves falling behind with lots of important things, especially filing your taxes.
In this video, I’ll share a story about a friend of mine, who didn’t file his taxes and almost lost out on a five thousand dollar refund. Because, if you’re due an IRS refund, you have three years in which to claim it. Once you’ve passed three years, your refund is lost.
Later in the video, I’ll let you know the last day to file your 2019 tax return, in order to claim your refund. There’s still time.
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Do you have questions about Why You Should Always File Your Taxes? I’m an Illinois-licensed, Registered Certified Public Accountant with over 25 years of experience. I’m dedicated to providing outstanding tax and accounting services to individuals and small businesses in the Chicago area.
Disclaimer: Any accounting, business or tax advice contained in this article, is not intended as a thorough, in-depth analysis of specific issues, nor a substitute for a formal opinion, nor is it sufficient to avoid tax-related penalties. If desired, I would be pleased to perform the requisite research and provide you with a detailed written analysis. Such an engagement may be the subject of a separate engagement letter that would define the scope and limits of the desired consultation services.