The IRS Says They Have a $ 1 Billion Unclaimed Return, so Be Sure to Claim Your
Surprisingly, many people don’t pay taxes every year, and according to the IRS, this can be especially true for college students or low-income students. They say that close to a million taxpayers failed to file in 2012, and if you are one of them, you might want to get this because they have about $ 1 billion in unclaimed refunds.
The IRS recently announced that $ 950 million is awaiting about a million taxpayers who did not file in 2012. Revenue Commissioner John Koskinen said:
A surprising number of people across the country are oblivious to the annual tax refund claims. But time is ticking for taxpayers who failed to file a 2012 federal tax return, leaving nearly $ 1 billion in unclaimed refunds. We especially recommend that students and others who have not made a lot of money to look into this situation, because they may still be eligible for a refund. Remember that there is no penalty for late returns if you need to get your money back.
Taxpayers have a three-year window to claim refunds, so if you didn’t apply in 2012, you must submit your claim by April 18, 2016 (or April 19 in Maine and Massachusetts). The IRS estimates the midpoint of potential reimbursement at $ 718. Half should cost less; half is more expensive. At the link below, they offer specific estimates by state.
The deadline is approaching and you can get tax forms for the current year and the previous year on the IRS Forms & Publications page (you can also call 800-TAX-FORM). For more information, follow the links below.
IRS Returns $ 950 Million to People Who Failed to File 2012 Federal Tax Returns | IRS.gov via Consumerist