2014 Tax Returns (Form 1040) – Time is Running Out to Claim a Refund

Taxpayers who did not file a tax return for 2014 may be due a refund from that year. However, a Taxpayer must claim their refund by this year’s April 17 tax deadline. To claim a refund, taxpayers must file a 2014 federal income tax return. Here are some facts about unclaimed 2014 refunds:

  • The law generally provides a three-year window to claim a tax refund. For 2014 returns, the window closes on April 17, 2018. If the Taxpayer timely filed for an extension of their 2014 return, the deadline is extended until October 15, 2018.
  • The law requires that taxpayers properly address, mail and postmark their 2014 tax returns by April 17, 2018, to claim their refund. Tax year 2014 tax returns cannot be electronically filed.
  • After three years, unclaimed refunds become property of the U.S. Treasury. There is no penalty for filing a late return if taxpayers are due a refund.
  • The IRS may hold 2014 refunds if taxpayers have not filed tax returns for 2015, 2016 and 2017. The U.S. Treasury will apply the refund to any federal or state tax owed. Refunds may also be held to offset unpaid child support or past due federal debts such as student loans.
  • Taxpayers who are missing Forms W-2, 1098, 1099 or 5498 for prior years should ask for copies from employers, banks or other payers. Taxpayers unable to get these copies can request a wage and income transcript either online or by mail. Taxpayers can also file Form 4506-T to get a transcript.
  • The three-year window also usually applies to a refund from an amended return. In general, you must file Form 1040X Amended U.S. Individual Income Tax Return, within three years from the date you filed your original tax return. You can also file it within two years from the date you paid the tax, if that date is later than the three-year rule. That means the deadline for most people to amend their 2014 tax return and claim a refund will expire on April 17, 2018.