Many people think not filing taxes only risks penalties—but it can also mean missing refunds. Dr. Friday explains why filing late could still help.
Transcript
G’day, I’m Dr. Friday, president of Dr. Friday’s Tax and Financial Firm. To get more info, go to www.drfriday.com. This is a one-minute moment.
I am Dr. Friday with Dr. Friday’s Tax and Financial Firm. I’m an enrolled agent licensed by the Internal Revenue Service, which really means all I do is taxes, right?
So if you’re dealing with a tax issue, if you’ve got the IRS, or maybe you just haven’t filed taxes—you’d be amazed how many people come in and haven’t filed for like 20 years. And it doesn’t mean the IRS is even after them.
They’ve left money on the table in many cases because we can only get refunds for three years. So by you not filing, sometimes you have reasons, sometimes it just becomes a habit.
You can catch the Dr. Friday Call-in Show live every Saturday afternoon from 2 to 3 p.m. right here on 99.7 WTN.