Time running out to file 2014 income tax return to claim refund from IRS. Refunds worth $1.1 billion are waiting to be claimed by those who have not filed 2014 income tax return.
File your 2014 income tax return with IRS by April 17, 2018 to claim your refund
In a recent announcement, the Internal Revenue Service (“IRS”) is reminding taxpayers that time is running out to claim a refund for their 2014 tax return. There is an estimated 1 million taxpayers who have not filed who may be entitled to a refund. The refunds are worth more than $1 billion. To claim a refund, taxpayers must file their 2014 federal tax return by April 17, 2018.
2014 Income Tax Return Refunds
It is important to note that there is no penalty for filing a late return if you are receiving a refund. The tax laws require taxpayers to file their tax return within three years of its due date to claim a refund. If the taxpayers do not file a tax return within three years of its due date, the refund becomes the property of the U.S. Treasury.
The IRS has set forth some statistics for claiming a 2014 income tax return refund:
- The median potential refund for 2014 is $847. But, many low- to moderate-income earners may be eligible for the Earned Income Tax Credit (EITC), which could increase your refund by a significant amount (in 2014, for example, the credit was worth as much as $6,143).
- If you have not filed for 2014, 2015, or 2016, the IRS will hold your tax refund. Plus any refund will be applied to amounts you already owe to the IRS.
- If you cannot obtain a W-2, 1099, or other informational form, you can obtain a wage and income transcript from the IRS using Get Transcript Online tool at IRS.gov. Or you can order them by mail, whichever is easiest for you.
- Forms and instructions are available to be printed from the Prior Year Forms and Instructions page on IRS.gov or you can order them by calling 800-TAX-FORM (800-829-3676).
- The law requires taxpayers to properly address, mail and ensure the tax return is postmarked by the tax filing deadline, which this year is Tuesday, April 17.
Contact an Experienced Ohio Tax Attorney
2014 Income Tax Return | Columbus Tax Lawyer
If you owe the IRS a tax debt, contact the experienced tax lawyer at Porter Law Office, LLC to discuss your options. Some tax debt relief companies will make promises that are simply not true. Columbus, Ohio tax attorney Matthew R. Porter, Esq. LL.M. will analyze your case and explain to you your options. If you have not filed returns in the past, the time is now to file your 2014 income tax return. Contact the experienced Columbus, Ohio tax lawyer at Porter Law Office, LLC today for a consultation to discuss your particular IRS tax needs and options.