Act fast to save your 2012 refund

Have you fallen behind on filing prior year federal income tax returns? Here’s a reason to catch up: You could lose the benefit of payments made in those earlier years. In general, you have three years from the original due date of your tax return to claim a refund of income taxes withheld from wages as well as other payments. That means time is running out to claim payments made during 2012. The three-year period for filing an original 2012 federal income tax return ends April 18 (April 19 if you live in Maine or Massachusetts).

Here’s what to do.

  • Gather copies of 2012 information. You can request a free wage and income transcript from the IRS online or by mail.
  • File your 2012 return on 2012 forms. That way you can take advantage of the correct exemptions and deductions as well as available tax credits.
  • Mail the return. Generally, past returns can’t be e-filed. For regular mail, the postmark date is considered the filing date. Get a postal receipt to verify that you met the deadline.

Contact us if you have questions about catching up with prior year taxes. We’ll help you get back on track.