Tony Zabaneh with H&R Block says you should file your 2007 taxes, even if late, because if you had any changes in your life circumstances, you could get more money.
Tony Zabaneh with H&R block said, "If we have taxpayers that did not have the tax liability in the years that they had this credit, like in 2007, the fact that the credit is refundable and retroactive means we can go back to the year 2007 and get that back for them."
Some changes in 2010 could be retroactive for past tax returns, things like adoptions ... and each year you should look back and see if any adjustments need to be made.
Those who didn't file 2007 may have thousands waiting for them. You can file your 2007 tax return at H&R Block for free right now.
Since the 2007 tax year will be finalized on April 15, it's not a bad idea to get a second look now, especially if you did your taxes yourself. A tax preparer can help you be sure that you're not leaving money on the table.
T ime is running out to file your 2007 taxes.
Nearly 1.1 million people failed to file that year. But when they didn't file, they may have hurt themselves in the end. Those folks could be entitled to more than $1.1 billion in refunds.
The deadline for filing the 2007 return is April 15, 2011.
The Earned Income Tax Credit helps folks that fall into limited income guidelines. In 2007 they were as follows:
- $39,783 for folks with two children
- $35,241 for folks with one child
- $14, 590 for folks with no children
H&R Block says there's no penalty for filing a return that qualifies for a refund.