Claim Your Tax Refunds Before The IRS Keeps Them
If you haven’t claimed your tax refunds from 2011 you may want to soon. It was announced that $1 billion in unclaimed tax returns will become property of the U.S. Government if they do not come forward to claim them.
There are an estimated one million taxpayer households that did not file a 2011 federal income tax return, according to the IRS.
In order to claim the refund in time, taxpayers must file a 2011 tax return with the IRS by April 15. Taxpayers only have three years to claim their refunds by law.
“People could be missing out on a substantial refund, especially students or part-time workers. Some people may not have filed because they didn’t make much money, but they may still be entitled to a refund,” IRS Commissioner John Koskinen said in a statement according to CNN Money.