IRS or State Unfiled/Missing Tax Returns - Taxpayers Have 3 Years to Collect on a Refund

US-WIDE, US-wide - March 24, 2013 - PRLog -- According to a communication email from the Internal Revenue Service (IRS), the year 2009 "refund" statute of limitation is about to expire  on April 15, 2013. Or if Taxpayer filed an extension, according to IRS code section 6511 (b)(2) (A), but failed to file an actual tax return, the final refund collection date would be October 15, 2013.

You may ask, "what happens to the money?". Well, the IRS has a black hole called "excess collections". All refunds due to a Taxpayer beyond the 3 year window to collect a refund apparently goes there. Whoa, whaaaaat? Rationally, one may assume if the money is not collected and a tax return is filed on a latter date (beyond 3 years) the amount of withholding should be credited to you one way or the other.

Sorry, Charlie, you did not file your IRS Tax Return in a timely manner therefore keep working, pay your taxes and, oh yeah,  you need to file a tax returns to get the amount you simply overpaid back. Wait...Whaaaaat? Listed above is the classic example of consequences suffered by not following the rules of tax obligations left unaddressed.

The Department of Treasury, (via the IRS the most powerful collection agency in the world) has a 10 year collection statute to collect on a filed tax return or the ability to make up a tax return called a SFR or "Substitute Filed Return". An SFR return is created without exemptions, credits, mortgage interest paid or household expense.

Got 10 years of missing tax returns? DWK Tax Group will have them filed, taxpayer brought back to compliance in 24 to 48 hours. DWK Tax Group will quiet the collection effort and negotiate a tangible end game best suited for the anxious  taxpayer.

Sick and tired of dealing with the mystery of State or IRS Tax Debt? Dial 1 - 8 6 6 - 2 2 6 - 6 1 0 2 for a free DWK tax analysts review. 20 minutes is all is required to gain insight of your unique situation.

Furthermore, a State Taxing Authority policy is worth noting, for most of the 41 states that enforce tax collection do not have a collection statute. Pending how broke the state is, can enforce collection of monies going back to 1991 if they so choose to do so. Ouch!

It is important to understand your options, rights and relative sustainable solutions should Taxpayers decide to make conscious change. Traveling down this road alone is not a recommended behavior, hire a firm whom treats YOUR tax problem as if it were our own.

Still floored by $917 MILLION dollars slated to go bu bye should refunds go unclaimed.

Time is ticking, tick tock tick tock...