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Living in a location that gives you plenty to do is no excuse for ignoring an important issue like tax. All those taxpayers living in California have plenty of good wine, sand and sea to enjoy. Could this be the reason for so many ‘Golden State’ inhabitants turning their backs on tax returns? It has been noted that approximately two hundred thousand individuals eligible for paying tax in California did not file tax returns. This is the unfiled tax return figure, for the year 2003 and Uncle Sam is smiling.
As a taxpayer you may not be aware of what is being lost. By not filing two hundred thousand tax returns the IRS is sitting pretty with over $236 million. This state of affairs is not due to Californians alone. In total there are 1.75 million people around the US who did not file a tax return for 2003. California does have the largest number of non-filers. However, they are found in each state and also in a variety of military stations. This pushed up Uncle Sam’s total to around $2.2 billion.
It’s important for all non-filers to understand if you have unfiled tax returns then you don’t get refunds that you are entitled to. The only way you could rectify this situation was to take advantage of Federal Law. According to Federal Law a tax payer is permitted to file a tax return within three years from the time of the first filing close off date. This means the first close off date for 2003 was April 2004. If you did not file for old refunds by that date you will not get your refund; Uncle Sam keeps it all. Even if you do the paperwork; Uncle Sam gets an interest free loan for at least three years because you didn’t file a tax return.