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This period may be extended by an objection entered by the trustee. You generally can only get a refund for three years after the due date of the return. If they think they owe you money, you will probably never hear.
If they think that you owe them money, you will hear and there will be penalties and interest added on. You get your contributions back, but you do not get back any fees you have paid. You can still get refunds for the past 3 years if you file. When the forms are accepted by the Official Receiver in Bankruptcy you become bankrupt.
Make sure you understand all your options before you decide. Generally no, however your trustee may choose to do so. If you become bankrupt you will be responsible for any debts incurred by you after bankruptcy. The period of a bankruptcy is 3 years from the date a statement of affairs is filed. Your trustee will decide whether there are matters requiring examination before the Official Receiver or the Court. When it is finished, the program will notify you that it must be printed and mailed.
You will probably hear from the state before you hear from the IRS. If you file all the missing returns, they usually will give you a break. In some cases, you can get back the money you made investing individual RESPs or family RESPs only.
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