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    minkylynnne's Avatar
    minkylynnne Posts: 1, Reputation: 1
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    #1

    Jan 24, 2009, 01:45 AM
    Colorado state taxes
    I file federal taxes every year and always have a refund coming back.However I have not filed state taxes in a few years, I am sure I would have money due to me, but since I have not filed will I be in trouble or owe?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Jan 24, 2009, 09:04 PM
    You COULD be in trouble, though not if you overwithheld and do not owe any money.

    I had a client here in Georgia who religiously filed their federal return, but failed to do so for Georgia for 17 years!

    When they finally had a return that required that they PAY money (due to a 401k disbursement), I had to coordinate with the Georgia Department of Revenue to determine how far back I had to file. Georgia want the past ten years filed.

    The clients ended up paying a bit on the return with the 401K disbursement, but they collected refunds from the previous three years, as Georgia, like the rest of the states, follows the same 3-year statute of limitation for collecting back refunds that the IRS follows.

    Unfortunately for my clients, that 3-year limitation doe NOT apply if you OWE taxes, so they about broke even.
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