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TAX TIP: DON'T LOSE A 2004 REFUND

March 24, 2008

When tax preparers celebrate on April 15, they aren't just celebrating the end of return season. They are also celebrating the closing of the statute of limitations for 2004, which puts another year of taxpayer and preparer screw-ups permanently in the past.

Unfortunately, the closing of the 2004 statute also closes the chance to get refunds on 2004 returns. The IRS reports that it is sitting on $1.2 billion of unclaimed tax payments for 2004. If some of that money is yours, you lose it forever if you haven't filed a 2004 return or refund claim when the three-year statute of limitations closes in three weeks,

If you haven't filed your 2004 return, you still can file one and claim your refund by April 15. Any decent tax preparer can help you, or you can get your own 2004 forms and instructions at the www.irs.gov page for Prior Year Forms, Instructions and Publications.

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