$917M IN UNCLAIMED TAX REFUNDS TO EXPIRE

Associated Press

WASHINGTON (AP) — If you didn’t bother filing a federal tax return for 2009, it might be a good time to rethink your tax strategy.

The Internal Revenue Service says it has $917 million in unclaimed tax refunds from 2009, and time is running out to claim them.

The refunds are owed to nearly 1 million people who failed to file returns for 2009. Taxpayers must file their 2009 returns by April 15 to claim their refunds. If taxpayers don’t file returns, the law says they have a three-year window to claim refunds. After that, the money becomes property of the U.S. Treasury.

The IRS says there is no penalty for filing a late return that qualifies for a refund. But the agency says refunds may be delayed if taxpayers also failed to file returns for 2010 and 2011.

No Comment

Leave a Reply

*

*

POPULAR POSTS