I have never filed taxes....?

Question

Hi! I am 20 years old and want to get the Stimulus payment( gov rebate check thing). I have never filed taxes. I know that i dont owe and know that i'd only get about $50 back so i never filed- is that bad!?! I make less than $20,000 a year and i know i quilify for the $600 rebate. Anyway... What I really would like to know is:

Can I file just my 2007 taxes and get the rebate or do i have to file all the years?

Thanks!

Answer 1

You should go ahead and file.  If you wait you will miss out on the stimulus payment.  It is foolish of you to not file the back years, a well as illegal.  None of your earnings are counting towards your social security until the tax returns are filed.  That mean if you become disable (you could have a car wreck tomorrow) you will not be able to file for social security disability.  If you have children and you die, they would not be able to collect social security survivor's benefits.  You are harming no one but yourself and your family by not filing your tax returns.

Answer 2

You can file just 2007 but the Federal and State Tax Bureaus are going to start looking for previous years.  But you have to start sometime and now is better than never

Answer 3

Legally you need to file for any open tax year where your income exceeded the filing requirement amount.  However if the IRS believes that you don't owe any tax, they will NOT push the issue.  If you have a refund due, it's foolish to let the IRS keep YOUR money!

Contrary to what the alleged CPA states, your wages are reported directly to Social Security -- that's where your employer sends the government's copies of your W-2s to by the way, NOT to the IRS.  The IRS receives the information from SSA.  The only time that information on earnings flows the other way is if you are self-employed.  In that case, the net profit shown on Schedule SE is reported to the SSA as income earned and the IRS funnels the SE taxes to the SSA trust fund.  So, if you are a wage earner working at a job subject to withholding your wages are reported to the SSA even if you never file a tax return!

In summary, you should file any open years to close the books on them.  The statute of limitations clock doesn't even START until a return is filed so leaving a tax year open is not wise.  And as noted above, if you're due a refund the IRS will happily keep YOUR money until you file.  And if you are eligible for the stimulus rebate, it will not be paid until you file your 2007 return.  You have until Oct 15th to file and claim the rebate this year.  That's only 45 days from now, so get cracking on it!

Answer 4

Just file 2007 if IRS wants you to file other years IRS will send you a letter telling you that your 2007 refund and stimulus is on hold until you file and they will give you the years they need you to file.

Making less than $20K you are required to file.

File now! before IRS files for you and you will owe IRS and you don't want to owe IRS.