A Brief Overview of Depreciation. Depreciation is an income tax deduction that allows a taxpayer to recover the cost or other basis of certain property. It is an annual allowance for the wear and tear, deterioration, or obsolescence of the property.
How far back can you submit returns or amended returns and still get a refund? You can go back three years from the original deadline of the tax return to get a full refund. After three years, you will not be able to obtain a refund. It is important if changes are needed on an already filed return that these changes are made within the three year time frame.
Report Abuse. It all depends on how far back the refund is from and how much it is for. Usually it can take a few months but could take a lot longer. If it is a small amount then they usually just adjust your tax code and give it back to you that way. have asked for a tax refund almost 3 months ago. HM Revenue & Customs sent me a form to fill in (which I did and returned quickly) and 2 letters asking for more information and documents (I also replied promptly with all the requested information even though I had already given it to them). I am now waiting.