| “She said they may refund the $ and may not?!? Is the IRS lenient with the 3 year rule at all? Do I have any hope at all of getting any of the refunds? “---->The IRS will not calculate the overpayment of tax and issue a refund check until a tax return is filed within the prescribed period. However, numerous exceptions exist extending the period in which you can file a past due return to receive a refund. A request for a tax refund related to a previous year will be valid and accepted by the IRS if you initiate the claim within three years from the time you filed the original return or two years from the date you paid the tax, whichever is later. Alternatively, if you receive a notice of deficiency from the IRS for a year in which you did not file a tax return and choose to contest the IRS's determination in the tax court, you can receive a refund for any excess tax payments made during the three-year period preceding the date of the notice. Generally speaking, it is never too late to file a tax return. Even after six or seven years, you can still file your tax return to the IRS. However, except in a few specific cases, you cannot obtain your tax refund after three years, as the statue of limitations will have expired. The IRS cannot pay refunds to you once the statue of limitations has expired. The tax law makes two exceptions for claiming a tax refund from seven years ago. The first is tax refunds that arise from bad debt.So if a loan you have made has still not been repaid and has a slim to no chance of being returned to you, you can declare that loan a loss on a tax filing from as far back as seven years ago and claim a refund. Secondly, under securities that have lost their entire value can likewise be grounds for amending a previously filed return for up to seven years and claiming a refund.
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