Answer: The latest date, by law, you can claim a credit or federal income tax refund for a specific tax year is generally the later of these two dates:
- 3 years from the date you filed your federal income tax return, or
- 2 years from the date you paid the tax.
This time period is called the Refund Statute Expiration Date (RSED).
If you filed your return before its due date, the IRS considers it filed on the due date. If you had income tax withheld or paid estimated tax during the year, we consider those payments to have been made on the return due date.
There is an exception to this rule: if the refund claim is for a bad debt or a worthless security loss, the statute gives the taxpayer seven years to claim the refund.
If you have questions about a back-dated tax credit or refund claim, please contact a ShindelRock tax professional. [1]