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Tax Law (Questions About Taxes)/Filing Late/Amending Tax Returns

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Question
My question relates to filing a tax return for a year where there was a net operating loss (and no tax due to the IRS nor a refund due to me from the IRS). I was self employed with no other income in 2011. I timely filed an extension for tax year 2011 but never filed the return. Is there a deadline for filing a return for 2011? Additionally, is there a deadline for amending the 2011 return after it is filed? Thanks.

Answer
15th day of the year after close is original due, add extension of 6 months and it was originally due oct 15, 2012.

IF you had any payments paid in, they are "lost" after 3 years (refund opportunity goes away).  but you could have carried back the loss and gotten a refund.

you should file to preserve any chance of benefit from the nOL. did you file 2012 and 2013?

you will have to file soon (April 15, 2015) to claim the refund and to elect to carry it forward (i dont think the carry back 2 years is automatic and can still be elected).

Id be happy to help if you want.  let me know

P

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Tax and general business including hospitality related (hotel mgmt degree and experience in industry prior to obtaining ms tax and cpa).

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19 years cpa. ms tax. NOTE: My discussions are only a general information and do not constitute tax advise without entering into a specific agreement and executing an engagement letter; This free chat is nothing more than general information and should not be construed as tax advice nor does my response or replies imply an agreement to provide client specific advice or other guidance for purposes of avoiding IRS tax or penalties and should not be relied upon without your own validation and confirmation of the how the discussion may fit your facts... Not having all the facts and/or not having a direct client relationship prevents me from providing the most accurate replies as possible and I highly suggest using a local CPA to provide you with written advice and guidance. Taking matters into your own hands is much akin to trying to land an airplane without a license. It is easy to FLY a plane, but LANDING is when critical experience is key. In short, caveat emptor; do your homework and don't just rely on free chat board advice anywhere, anytime.

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