$917M in Unclaimed Tax Refunds to Expire April 15
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. The IRS estimates that half of the refunds are
more than $500.
Taxpayers must file their 2009 returns by April 15 to
claim their 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.
Current and prior year forms can be found at irs.gov. The
IRS also lists the number of individuals in each state that didn't file a 2009
return that may be eligible for a refund.
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