Help The Middle ClassNews and Information For The Heart Of America
The IRS Is Holding Up To $1.3 Billion In Unclaimed Funds (Bankrate.com)
Forget about your 2009 tax return for a minute. If you didn’t file one for 2006, you might be missing out on some money from back then. But you’re quickly running out of time to claim it.
Three years ago, more than 1.4 million individuals apparently decided they had better things to do than file their 2006 tax returns, even though they were due refunds. In total, more than $1.3 billion worth of refunds from that tax year is still sitting in the Internal Revenue Service account.Taxpayers can still get their old refund checks, which the IRS says could amount to more than $800 for some folks. But the claim, via a 2006 Form 1040, must be made by April 15. After that, the federally allowed three-year window of opportunity from the original filing deadline, which was April 2006, closes forever and Uncle Sam gets to keep the cash.
The IRS estimates that the median refund — meaning half of the checks will be larger and half smaller — is $604, and the money is owed to nonfiling taxpayers in every state and the District of Columbia, as well as to residents of U.S. territories and military filers who didn’t file returns that year.
TO CONTINUE READING THIS ARTICLE, CLICK THIS LINK TO BANKRATE.COM
