I was 15 when my father passed away and I just seen that you could file a deceased persons taxes when I discovered this year he had a unclaimed insurance policy. I was too young to know back then and hopefully my mom didn't even know to do it because she would've taken if she didn't back then. He did not have a will but I was the only living heir and everything went to me. Is is possible to file his last taxes? He worked up until February of 2000 and I believe he was too sick to file 1999 taxes. Is there a way to check and can I file a tax return from 1999, 15 years ago?
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•There is no penalty for failure to file if you are due a refund. But, if you wait to file a return or otherwise claim a refund, you risk losing a refund altogether. An original return claiming a refund must be filed within 3 years of its due date for a refund to be allowed in most instances.
•After the expiration of the three-year window, the refund statute prevents the issuance of a refund check and the application of any credits, including overpayments of estimated or withholding taxes, to other tax years that are underpaid. However, the statute of limitations for the IRS to assess and collect any outstanding balances does not start until a return has been filed. In other words, there is no statute of limitations for assessing and collecting the tax if no return has been filed.
http://www.irs.gov/taxtopics/tc153.html
I would forget about trying to get a refund and just focus on getting the insurance policy information.
As I read the provision, if your father by some chance did owe funds and you filed a return (assuming you have the income and expense data to do so), if taxes were owed the IRS would expect them to be paid.
I think you'd be opening a Pandora's Box by filing at this late date.
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I think they'll be able to help you.
God bless you for making lemonade from lemons. I wish you the very best of luck.
As to an insurance policy, regardless of whether or not you were his only heir, the only thing that matters on the policy us whom dad named as the beneficiary proceeds. If he named someone besides you, you aren't entitled to any proceeds.
If you have the policy number or company name, you may be able to contact them to see if you are the beneficiary. The insurance company will want to see a copy of his death certificate.
Hope some of this is helpful.