| Knowing how to file past tax returns is a skill that can | | | | owes you money! |
| help you in a lot of ways. It keeps you from falling | | | | This is because most people who have back taxes |
| further into debt. It helps you keep track of your | | | | are likely to be from the income brackets most served |
| financial history. It can save you money or bills. It can | | | | by things like tax credits and tax cuts. It's like a sneaky |
| make filing this year's returns go a lot faster. Like many | | | | trick the IRS is trying to play on everyone--convincing |
| tax-related skills it's an important, but rare things to | | | | us that if we learn how to file past tax returns we'll |
| have. | | | | owe them instead of the other way around! This |
| But can knowing how to file past tax returns cancel | | | | keeps too many people from learning how to file past |
| out what you owed last year? | | | | tax returns and claiming their money! |
| In a word: Maybe. In more words? It's complicated, but | | | | So how to file a past tax return? It's pretty simple and |
| probably. | | | | a lot like filing a current return. Simply gather up the |
| It depends how we define the idea of cancel. If we | | | | documents you'll need (those old W2's, you old |
| say that cancel means the IRS looks and sees that | | | | receipts, etc, etc). You can either request the |
| you filed those returns and literally erases any debt | | | | necessary forms from the IRS and fill them out |
| then, no. Knowing how to file your past tax returns | | | | yourself and do the much faster (and simpler) thing |
| won't save you from any past due tax debt (though it | | | | and file those past tax returns online. In either case, |
| will vastly reduce any debt you have!) In fact, one | | | | there are a few more questions than the normal |
| should never avoid filing past taxes because of the | | | | return, but it's really nothing to sweat. It might take a |
| debt. Not only is the debt cancelled as soon as you | | | | little longer, but as long as you have all your documents |
| send them the forms, but it's also easy to set up | | | | in order (and especially if you use an online service) it |
| payment plans, making any debt you have extremely | | | | should be a snap. There are a lot of reputable |
| manageable. | | | | companies out there who will help make sure that you |
| But if you're like the average American with some | | | | don't miss a single line or owed dollar. |
| past due taxes, chances are you there's nothing to | | | | Don't worry about learning how to file past tax returns |
| cancel out. That's because if you're the average | | | | to cancel what you owed last year--worry about |
| American trying to figure out how to file past tax | | | | learning how to file them so you can get last years |
| returns you don't owe anything! In fact, the government | | | | money back! |